Vietnam Seeks to Delay U.S. Tariffs and Bolster Trade Ties

Vietnam plans to purchase more American goods, including defense products, and seeks a 45-day delay on U.S. tariffs, as announced by PM Pham Minh Chinh. Negotiations aim to balance trade relations, following U.S. tariffs that impacted Vietnam's stock index. Vietnam's monetary policies and trade practices are under review.

Vietnam intends to significantly increase its purchase of American goods, including defense and security-related products, according to Prime Minister Pham Minh Chinh. The nation has also requested a 45-day postponement of U.S. tariffs, which were announced last week, to allow room for strategic negotiations.

As a critical manufacturing hub in the region, Vietnam enjoyed a trade surplus with the U.S. exceeding $123 billion last year. Seeking balanced trade, Vietnam's stock index experienced a decline of nearly 14% in response to the tariff imposition announced by President Donald Trump.

Negotiations are underway, as Prime Minister Chinh indicated readiness to examine Vietnam's monetary policy and trade practices. The lifting of a U.S. arms embargo in 2016 saw limited defense exports to Vietnam, predominantly consisting of coastguard ships and training aircraft, with possibilities for future military equipment sales like Lockheed Martin's C-130 Hercules.

(With inputs from agencies.)