Vietnam finalizing trade deal with Washington
This comes days before a pause on what US President Donald Trump calls "reciprocal tariffs" will expire.
Vietnam's foreign ministry spokesperson gave an update at a news conference on the status of the talks.
Vietnamese foreign ministry spokesperson, Pham Thu Hang, said that negotiation teams from Vietnam and the US are working together to exchange ideas and specify discussions between the leaders of the two countries.
Trump said on social media Wednesday that all Vietnamese goods will face a 20 percent levy, which is much lower than a total of 46 percent the country faced in April. But it's unclear if the earlier 10 percent global tariff is included in the 20 percent.
He also warned he'll tax goods from other countries transited through Vietnam at 40 percent. US media report the move is aimed at cracking down on Chinese products being routed through the country.
Trump also said Vietnam has agreed to give the US "total access" to its markets and lower tariffs on American goods.
Thailand is also rushing to negotiate a deal with the Trump administration before the July 9 deadline. Finance Minister Pichai Chunhavajira is in Washington and is scheduled to meet with the US trade representative on Thursday.
Thailand was slapped with a total of 36 percent tariffs. But it has asked the US to review the rate by proposing to expand imports of energy resources and agricultural products.
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