Under a decision signed by the Prime Minister on April 12, the negotiation team comprises nine members led by Minister of Industry and Trade Nguyen Hong Dien.

Other members come from the Ministry of Industry and Trade, Ministry of Finance, Ministry of Agriculture and Environment, Ministry of Science and Technology, Ministry of Foreign Affairs, Ministry of Home Affairs and State Bank of Vietnam.

Vietnamese Ambassador to the US Nguyen Quoc Dung also joins the negotiation team.

The team is tasked with leading and coordinating with relevant ministries and sectors to develop negotiation scenarios and strategies with the United States on a bilateral trade agreement, based on the principle of maximizing national interests while ensuring harmonized benefits and shared risks.

It will conduct negotiations with the US side, aiming to achieve a stable, sustainable, and mutually beneficial bilateral trade agreement. It will report to the Prime Minister on the negotiation process and outcomes, and propose necessary measures and policies to implement the agreement once it is signed.

Currently, Vietnam and the US have a bilateral trade agreement signed in 2000. At a meeting on April 8, Deputy Prime Minister Bui Thanh Son, head of Vietnam’s working group, tasked the Ministry of Finance with coordinating with other ministries and sectors to formulate an upgraded bilateral agreement with the US, including provisions on tariffs and intellectual property.

The formation of this Government negotiation team reflects Vietnam’s strong commitment to resolving trade differences in a transparent and constructive manner, and to fostering a fair and sustainable trade and investment environment.

It came following Deputy Prime Minister Ho Duc Phoc’s recent working visit to the US where he had working sessions with US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and officials from the Department of Commerce and US Trade Representative Jamieson Greer to address pending trade issues between the two countries, among others.

The two sides agreed to soon kick-start negotiations on a bilateral trade agreement that will also include tariff discussions.

President Donald Trump earlier announced a decision to impose reciprocal tariffs on export commodities from countries worldwide, and it was scheduled to come into effect on April 9. Vietnamese commodities would be subject to a general rate of up to 46%.

Trump later suspended the decision for 90 days following trade negotiation goodwill from US partners.

Vietnam and US to negotiate a bilateral trade agreement

VOV.VN - Vietnam and the United States have agreed to begin negotiations on a bilateral trade agreement, which will also include tariff discussions, a key pillar of the proposed agreement.