Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan told a regular first-quarter press conference that the two sides are working to narrow differences and reach consensus on outstanding issues, with negotiations showing positive momentum.

Tan said Vietnam’s negotiating team has been closely coordinating with relevant ministries and agencies and regularly reporting to competent authorities to advance the talks. Vietnam has provided the US with necessary information, including product lists, tariff schedules and technical parameters, to facilitate greater access for US goods to the Vietnamese market.

He noted that while a trade deficit exists, it does not result from direct competition between the two economies but reflects differing roles and specialisation within global supply chains. US exports are mainly high-value products, while Vietnamese goods serve other market segments, he said.

Tan added that the United States has put forward high demands, some of which pose challenges for Vietnam’s delegation, but expressed hope that upcoming negotiations would lead to greater convergence through continued explanation and persuasion in a constructive spirit.

Beyond trade talks, Vietnam is also intensifying efforts to attract US investment, encouraging American firms to expand production in Vietnam and continuing to create favourable conditions for US imports, with the aim of gradually narrowing the trade gap.

Looking ahead to 2026, Tan said, Vietnam would continue engaging partners, promote deeper integration of domestic firms into global supply chains, diversify export markets and make fuller use of free trade agreements.

The fifth round of direct negotiations was held in Washington, D.C., from November 12 to 14, during which both sides made progress on services, digital trade, agriculture, technical barriers to trade (TBT) and sanitary and phytosanitary (SPS) measures, while narrowing differences on remaining issues.

Vietnam and United States reach framework agreement on reciprocal trade

VOV.VN - Vietnam and the United States have issued a joint statement on the framework for a reciprocal trade agreement, emphasising fairness, balance, and expanded bilateral trade and investment opportunities.