Vietnam and U.S. approach new trade agreement

Vietnam and the United States are nearing a trade agreement aimed at creating a reciprocal, balanced, and fair tariff structure. During a meeting on the sidelines of the UN General Assembly, Vietnamese leader To Lam indicated that Vietnam is looking to reduce its trade deficit with the U.S. by increasing imports of high-tech goods, including aircraft, railway infrastructure, and large-scale energy projects.

Addressing concerns regarding trade practices, To Lam emphasized that Vietnam does not accept the transshipment of goods. He stated that products must have transparent origins, genuine production, and meet international standards to be recognized as Vietnamese. While a deal is described as being ‘very close,’ final negotiations are still ongoing.