The trade balance between the US and Vietnam is very lopsided, compared to other trade partners. The Vietnam export to import ratio is under 10 percent! 👀 Vietnam has taken advantage of this unbalanced arrangement long enough.
Posted on 04/04/2025 4:04:45 PM PDT by SeekAndFind
HANOI (Reuters) -U.S. President Donald Trump and Vietnam's leader To Lam agreed on Friday to discuss a deal to remove tariffs, both leaders said after a phone call that Trump said was "very productive", as Hanoi escalated its campaign to dodge duties of 46%.
Days before Trump's announcement on reciprocal tariffs that hit Vietnam hard, the country had already cut several duties as part of a series of concessions to the U.S., which also included pledges to buy more American goods such as planes and agriculture products.
"Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S.", Trump wrote on his Truth social platform.
"I thanked him on behalf of our Country, and said I look forward to a meeting in the near future," Trump added.
Lam confirmed the call and the pledge to cut tariffs on U.S. goods. "At the same time (Lam) proposed that the U.S. apply similar tax rates to goods imported from Vietnam," read a report on Vietnam's government portal published shortly after Trump's post.
The two leaders agreed they will continue talking "to soon sign a bilateral agreement" on tariffs, the Vietnamese government said, adding Trump accepted an invitation to visit Vietnam soon.
The Southeast Asian country, which serves as a major manufacturing base for many Western companies, had a trade surplus with Washington which exceeded $123 billion last year.
Shares of Nike, Adidas and Puma dropped sharply after Vietnam was targeted with 46% tariffs on Wednesday, as the country hosts major manufacturing operations for global shoemakers. But some reversed course following Trump's post on Friday.
(Excerpt) Read more at msn.com ...
I’d offer them the $4 billion Kissinger promised. Military aid. Send a message.
Did anyone in 1968 ever think that Vietnam’s Communist led government would have their hat in hand groveling at the feet of a American Capitalist for a fair trade deal? Just askin...
Resume Buffy bombing of Haiphong harbor.
If a deal is struck, I'd love to hear Hanoi Jane's reaction. "Hey she-dog traitor, how you liking it now?"
It should be reading and study assignment in every high school.
One of the Hallmarks of a communist government is production controlled by the government not a market economy. When communist governments liberalized their economies they ceased to be communist.
Especially in China they still call themselves communist but aren’t. I am not sure what they are. China’s economy doesn’t appear to more regulated than the UK.
It also appears there is less religious oppression than in the UK, and less than the American left wants.
They don’t have socialized health care.
On the other hand, they have pervasive and comprehensive censorship. They are a one party state. It is a highly controlled state. The legal system has improved but is still a guilty until proven innocent system. These are not trivial issues.
I think that China, and maybe Vietnam have both transitioned from a communist government into more of some kind of oligarchical dictatorship.
Just my thoughts and I just spent three weeks in China
Việt Nam will do what it takes to stay in America’s good graces. The people in the government there, Communists in name and form, are not the same people who fought the war. They are a much more practical collection of leaders. They are nationalists and they need us for the same reason that we need them, to wit: China. DJT is highly respected in Việt Nam.
“Trump said he will put a 46% duty on imports from Vietnam as part of a new wave of global levies announced Wednesday. That could soon raise costs for major corporations in the apparel, furniture and toy space, and some of them may pass those increases to consumers in the form of price hikes. The tariffs on Vietnam take effect on April 9.”
Good.
What a waste that War was.
WORST OF THE DIRTY 15, 90%.
The result looks to be removal of Việt Nam’s tariffs on American goods. That is surely what was intended. DJT is converting a world system of tariffing American goods, sometimes with high tariffs, to a system of no or low tariffs. The bad thing about hat is that the thought of replacing the IRs and income taxes with tariff financing of the government can’t happen.
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