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Vietnam cites $114 billion US trade gap in tariff talks
The Hindu BusinessLine··29 Aug
Vietnam's Deputy Prime Minister Nguyen Van Thang told US Trade Representative Jamieson Greer that Hanoi is ready for open, constructive trade talks. The sides are working to finish a tariff deal after an October framework agreement. Vietnam posted a $114 billion trade gap with the US in the first half of 2026. Greer said Washington wants to conclude soon.
Prism
What It Means For You
- Exporters routing goods via Vietnam face closer US scrutiny over transshipment and trade fraud claims during the talks.
- Section 301 findings due in November could lead to higher tariffs if Washington keeps Vietnam as a priority foreign country.
- US firms such as Qualcomm, Visa, Axon and Caterpillar met Thang as Hanoi courts fresh investment.
What's Happening
- Thang signaled willingness to ease US concerns over trade fraud and illegal routing of exports through Vietnam.
- US officials have opened three simultaneous Section 301 investigations into Vietnam's trade practices.
- An April report called Vietnam a priority foreign country over online piracy, counterfeits and border controls.
Why the Tariff Talks Matter Now
- Vietnam's first-half 2026 US trade gap of $114 billion led China, Mexico and Taiwan on that measure.
- Imports from China into Vietnam have risen as factories expand electronics and other goods for US buyers.
- Talks stalled earlier over transshipment and non-tariff barriers while both sides still cite the October framework.
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