Vietnam forms negotiation team to seek reciprocal trade agreement with US

Minister of Industry and Trade Nguyen Hong Dien has been appointed head of the negotiation team, with Deputy Minister Nguyen Sinh Nhat Tan serving as deputy head, according to the decision announced on Saturday.

The team also includes Deputy Minister of Finance Cao Anh Tuan, Deputy Minister of Agriculture and Environment Hoang Trung, Deputy Minister of Science and Technology Pham Duc Long, Deputy Minister of Foreign Affairs Do Hung Viet, Deputy Governor of the State Bank of Vietnam Pham Quang Dung, Deputy Minister of Home Affairs Nguyen Ba Hoan, and Vietnamese Ambassador to the U.S. Nguyen Quoc Dung.

The Ministry of Industry and Trade will serve as the standing agency for the team, supported by a working group of senior officials from relevant ministries and agencies.

The team is responsible for developing negotiation plans and strategies that safeguard national interests while ensuring balanced benefits and shared risks between both countries.

According to the prime minister's directive, the objective of the negotiations is to achieve a fair, stable, sustainable, and mutually beneficial trade agreement based on mutual respect.

The team is required to report progress and outcomes to PM Chinh and propose the necessary policy measures for implementing the agreement once it is finalized.

The negotiation team was formed following U.S. President Donald Trump's April 9 announcement of a 90-day delay in implementing a new global tariff policy, including a 46-percent duty on Vietnamese imports, previously announced by the U.S. administration and originally scheduled to take effect the same day.

Vietnam had earlier requested a postponement of at least 45 days to allow time for trade negotiations and is now among more than 75 countries and territories benefiting from the 90-day delay.

On April 6, Deputy Prime Minister Ho Duc Phoc, acting as a special envoy of Party General Secretary To Lam, visited the United States, where he met with Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.

These meetings resulted in a mutual agreement to begin formal negotiations on a bilateral trade deal, including discussions on the reciprocal tariff.

Treasury Secretary Bessent expressed appreciation for Vietnam's timely and proactive efforts in addressing U.S. concerns, welcomed the agreement to launch talks, and confirmed that he has been appointed head of the U.S. negotiation team.

He also conveyed confidence that both countries would soon find appropriate solutions to build a stable and mutually beneficial economic and trade partnership.

Commerce Secretary Lutnick reaffirmed the importance of U.S.-Vietnam relations, describing Vietnam as a major economy with significant potential and a key regional partner for the United States.

He emphasized that the U.S. is currently prioritizing reindustrialization, reshoring manufacturing, and ensuring fair trade.

Lutnick stated that the Department of Commerce will work closely with Vietnam to address outstanding economic and trade issues and help shape a meaningful agreement that benefits both countries.

On April 4, one day after the 46-percent tariff was announced, Vietnamese Party General Secretary To Lam held a phone conversation with President Trump.

During the call, Lam expressed Vietnam's readiness to work with the U.S. to reduce tariffs on American goods to zero, increase imports from the U.S., and facilitate American investment in Vietnam.