Latest news with #AseanBusinessCouncil
Mint
2 days ago
- Business
- Mint
Vietnam Urges US Business Group to Help in Tariff Talks: Media
Vietnamese Prime Minister Pham Minh Chinh called on a US business group to continue supporting his country's attempt to secure a final tariff agreement with the Trump administration after the two countries basically reached a consensus on the deal's framework, local media reported. Chinh made the request during a Friday meeting in Hanoi with the U.S.-Asean Business Council, The Investor website reported, citing the Vietnamese government's news portal. The group represents companies such as Apple Inc., Boeing Co. and Inc., according to its website. Leaders of the Southeast Asian nation were caught off guard by President Donald Trump's announcement last week that they had agreed to a 20% tariff, Bloomberg News reported. Vietnam seeks to lower the rate, people familiar with the matter said. Read More Vietnam Surprised by Trump Tariff Decision, Seeks Lower Rate Vietnam, which last year had the world's third-biggest trade surplus with the US, was the second country after the UK with which Trump announced a trade agreement. The US president has been issuing tariff letters to dozens of trading partners since then, slapping on duties as high as 50% ahead of an Aug. 1 deadline. Chinh said the two countries had basically reached a consensus on the deal's framework, but he called on the US business group to help Vietnam obtain a reasonable and detailed tariff agreement for individual products and for some groups of goods, The Investor reported. The prime minister urged council representatives to oppose the use of trade defense measures against Vietnamese exports and actions that would undermine bilateral ties between the two countries, according to the report. He also asked companies to push the US to recognize Vietnam as a market economy. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
18-03-2025
- Business
- Bloomberg
Vietnam at ‘Real' Risk of New US Tariffs, US Business Group Says
The Trump administration could slap new tariffs on Vietnamese goods as a tool to rebalance trade between the US and the Southeast Asian Country, U.S.-Asean Business Council President and Chief Executive Officer Ted Osius said at a Hanoi briefing. 'We think that the risk of tariffs is real,' Osius said. 'Vietnam has one of the highest trade surpluses with the United States globally.'
