Overview

• Pham Minh Chinh told the World Economic Forum in Tianjin that he expects an agreement before early July to prevent 46% tariffs set to resume if no deal is reached.
• Hanoi has held several rounds of talks with Washington, with US negotiators presenting what Vietnamese officials call a tough list of trade demands.
• One key US demand calls for Vietnam to cut the use of Chinese technology in devices assembled for export to the American market.
• Vietnam’s trade surplus with the US soared to $12.2 billion in May, a 42% jump year-on-year that has fueled Washington’s push for greater market balance.
• To address US concerns, Vietnam has offered to expand imports of American goods and intensify measures against illegal Chinese transshipment.