Vietnam says it’s made positive progress in the second round of trade talks with the US, as it seeks to secure a deal to avert a cripplingly high US tariff.

Vietnam and the United States this week concluded a second round of trade negotiations, as the Southeast Asian industrial hub seeks a deal to avoid a 46% tariff rate on Vietnamese goods, imposed largely due to its big trade surplus with Washington.

THE GOVERNMENT needs to keep pace with the trade concessions offered to the US by regional competitors like Vietnam, according to Alfredo S. Panlilio, president of the Management Association of the Philippines (MAP).

Vietnam's stock market experienced a strong breakout in May, buoyed by positive signals from Vietnam-US trade negotiations, interest from Donald Trump’s business group, a surge in Vingroup-related stocks, and the launch of the KRX trading system.

Vietnam and the United States held their first direct ministerial-level negotiations on Friday against the backdrop of an impending U.S. tariff of 46% on imports from the Southeast Asian nation, which could significantly impact its growth.

Trump’s U-turn sees European leaders call for ‘lowest possible’ tariffs after levies postponed from June 1 to July 9.

During a high-level meeting in Washington D.C. on May 22, Vietnamese Minister of Industry and Trade Nguyen Hong Dien and U.S. Secretary of Commerce Howard Lutnick agreed to intensify technical dialogue and maintain senior-level exchanges to push for substantial progress in bilateral tariff negotiations.

The United States and Vietnam have concluded a second round of trade negotiations on tariffs and agreed to continue the talks to address unresolved issues, Vietnam's trade ministry said in a statement on Thursday.

Among dozens of countries that were hit with steep tariffs, Vietnam was among the most publicly willing to meet the demands of the Trump administration. But China is a sticking point.

HANOI: The United States has told Vietnam its trade deficit with the South-East Asian country is "unsustainable" and a major concern, Vietnamese state media reported on Friday (May 16), as the two countries hold negotiations on tariffs.

HANOI: The United States has told Vietnam its trade deficit with the Southeast Asian country is "unsustainable" and a major concern, Vietnamese state media reported on Friday (May 16), as the two countries hold negotiations on tariffs.