US treasury secretary Scott Bessent to lead bilateral trade agreement negotiations with Việt Nam
Commerce Secretary Howard Lutnick reaffirmed the US’ strong commitment to its relationship with Việt Nam, recognising Việt Nam as a major and potential economy and a key US partner in the region.
Continuing his visit to the United States as the Special Envoy of General Secretary Tô Lâm to discuss bilateral economic and trade issues, Deputy Prime Minister Hồ Đức Phớc on April 10 (US time) held meetings with US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
During his meeting with Treasury Secretary Scott Bessent, Deputy PM Phớc affirmed that Việt Nam highly values its Comprehensive Strategic Partnership with the United States and seeks to promote economic and trade relations in a balanced, harmonious, and sustainable manner.
He welcomed the agreement between both sides to initiate negotiations on a reciprocal trade agreement, including tariff arrangements, as achieved during the talks with US Trade Representative Jamieson Greer the day before.
Deputy PM Phớc emphasised that Việt Nam is ready to engage in negotiations and urged both parties to expedite discussions to reach an agreement as soon as possible. Such an agreement would contribute to fostering stable and sustainable bilateral economic and trade relations, benefiting both nations' businesses and people.
Treasury Secretary Scott Bessent expressed appreciation for Việt Nam's proactive measures in addressing US concerns. He welcomed the decision to negotiate a bilateral trade agreement and confirmed that the US administration had appointed him as the chief negotiator for discussions with Việt Nam. The Secretary expressed confidence that both sides would soon reach mutually beneficial solutions to enhance stable and fair economic and trade relations.
During his meeting with Commerce Secretary Howard Lutnick, Deputy PM Phớc emphasised the significance of both nations agreeing to launch negotiations for a bilateral trade agreement, aligning with the framework of the Việt Nam-US Comprehensive Strategic Partnership.
Highlighting the importance of the 30th anniversary of diplomatic relations (1995–2025), the Vietnamese official expressed his pleasure at the positive development of bilateral ties and stressed the importance of continued close cooperation to further deepen the partnership.
Deputy PM Phớc reiterated Việt Nam's consistent policy of maintaining political, economic, and social stability while building an independent and self-reliant economy with proactive and effective international integration. He urged the US Department of Commerce to work closely with relevant Vietnamese ministries and agencies throughout the negotiation process.
Commerce Secretary Lutnick reaffirmed the US’ strong commitment to its relationship with Việt Nam, recognising Việt Nam as a major and potential economy and a key US partner in the region. He emphasised the US priority of reindustrialisation and reshoring production while ensuring fair trade.
The Secretary affirmed that the US Department of Commerce would collaborate closely with Việt Nam to negotiate and address outstanding issues in bilateral economic and trade relations, aiming for a mutually beneficial agreement that supports the development of both nations.
In recent days, during his "special" mission to the United States as the Special Envoy of General Secretary Tô Lâm, Deputy PM Phớc has engaged in extensive discussions and negotiations with the US government.
These efforts have led to an agreement to commence negotiations on a bilateral trade deal, with tariffs as a key pillar—an important achievement amid complex global trade dynamics.
This outcome follows the strategic direction set during the critical phone call between General Secretary Tô Lâm and President Donald Trump on April 4, just two days after the US announced reciprocal tariffs, as well as proactive and urgent efforts by the Vietnamese government to swiftly implement the results of that conversation.
As per the Prime Minister's directive, on April 11, 2025, Việt Nam will establish its negotiation team to engage with the US negotiation team, led by Treasury Secretary Bessent, aiming to reach a stable, sustainable, and mutually beneficial bilateral trade agreement as soon as possible.
