Vietnam's Strategic Moves to Strengthen U.S. Trade Ties

Vietnam is boosting its trade relations with the U.S. by signing provisional energy deals and considering tariff reductions on U.S. imports to avoid tariffs from the Trump administration. These efforts aim to reduce Vietnam's trade surplus with the U.S., promoting business ties and enhancing the import of key U.S. products.

In an effort to strengthen economic ties and avert potential tariffs from the Trump administration, Vietnam has announced provisional agreements to import U.S. energy products and is contemplating lowering tariffs on American goods. These initiatives are part of Vietnam's broader strategy to narrow the trade gap with the U.S., which stood at over $123 billion last year.

PetroVietnam Power has reached a preliminary agreement with GE Vernova to procure equipment and services for gas-powered plants. Furthermore, Vietnam's trade ministry has reported new provisional deals with U.S. and Vietnamese companies for importing energy equipment and related products, including ethanol and liquefied natural gas, into the country.

Amid ongoing visits by Vietnamese officials to Washington, discussions are focused on removing trade barriers and enhancing business collaboration. Notably, large U.S. corporations like Apple, Boeing, and Amazon are scheduled to visit Vietnam, indicating potential growth in bilateral business ventures.

(With inputs from agencies.)