Negotiations between Vietnam and the U.S. regarding tariffs are continuing despite recent statements by Trump. Both parties are working on clarifying the terms of the agreement.
Negotiation Process
Despite Trump's July 2 announcement of a 20% tariff, negotiations between Vietnam and the U.S. are ongoing. Vietnamese Foreign Ministry spokesperson Pham Thu Hang stated that both sides are "continuing discussions to clarify and concretize related contents."
Impact of Tariffs on U.S.-Vietnam Relations
The tariff negotiations mark a departure from the friendly relations established between the two countries over the past 30 years. Following Trump's announcement of a 46% tariff on Vietnamese goods and 40% on Chinese-origin products, analysts highlight that this could undermine previously achieved successes. Vietnam has not formally endorsed the conditions described by Trump as finalized, raising concerns about the future of trade relations.
Vietnam's Balancing Act Between China and the U.S.
Vietnam has a rich history of attempting to balance the interests of major neighbors like China and the U.S. Since establishing diplomatic relations with America in 1995, Vietnam has aimed to avoid dependency on one partner while maintaining active cooperation with both the U.S. and China, despite rising trade tensions.
The situation surrounding tariffs illustrates the complexity of U.S.-Vietnam trade relations. While balancing China's influence, Vietnam continues to seek economic partnership with the U.S., while closely monitoring the potential consequences of new tariffs.
