Overview

• The United States and Vietnam concluded a second round of trade negotiations on May 22, with both sides reporting significant progress on key issues.
• The proposed 46% tariff on Vietnamese exports, announced in April, remains paused until July 8, intensifying efforts to reach an agreement before its implementation.
• Vietnam’s $123.5 billion trade deficit with the U.S. and $44 billion in apparel exports highlight the economic stakes of the negotiations.
• Vietnamese manufacturers, employing over three million workers, are ramping up shipments and urging global brands to maintain responsible sourcing practices.
• A third round of talks is scheduled for late June, with both nations emphasizing the importance of a balanced and sustainable trade relationship.