Prime Minister Pham Minh Chinh and delegates performed the groundbreaking ceremony for the urban complex, eco-tourism , and golf course project in Hung Yen province (Trump International Hung Yen).
US Trade Representative Jamieson Greer appreciated Vietnam's goodwill, approach and handling of the issues raised by the United States, and acknowledged the efforts and constructive spirit of the Vietnamese Negotiation Delegation. He said that Vietnam is a Comprehensive Strategic Partner of the United States and therefore, reaching an agreement with Vietnam on reciprocal tax policy at this time is important not only for Vietnam but also for the United States. He also responded quite positively to the issues that Vietnam was concerned about, and proposed a number of solutions to handle complicated issues during the negotiation process.
Vietnam will increase agricultural purchases from the United States.
On June 2, Minister of Agriculture and Environment Do Duc Duy led a delegation of nearly 50 agencies, enterprises, and associations of the Vietnamese agricultural sector to the United States. Minister Do Duc Duy said the visit aimed to strengthen bilateral trade relations and explore opportunities to increase imports of agricultural, forestry, and aquatic products from the United States towards balancing the trade balance between the two countries. Vietnamese enterprises are ready to seek US partners to purchase US agricultural products with strengths such as animal feed ingredients, fertilizers and biological pesticides, meat products, cold-water aquatic products, and raw wood.
Vietnamese businesses expect that in addition to purchasing goods, they will have the opportunity to receive the transfer of scientific and technological solutions to improve the agricultural value chain. Vietnam and the United States are both countries with strengths in agriculture , but they complement each other and do not compete directly.
“The most important thing is that with the participation of the two governments, Vietnamese and US agriculture are increasingly closely connected, sharing a common supply chain, thereby improving competitiveness and supporting the interests of producers and consumers in each country,” the Minister emphasized. At the same time, the Minister said that Vietnamese agricultural enterprises have been strongly joining hands with the Government to increase purchases of US agricultural, forestry and fishery products with strengths, harmonizing the bilateral trade balance, thereby closely linking the agricultural, forestry and fishery supply chains of the two countries, contributing to ensuring global food security.
In recent times, the Ministry of Agriculture and Environment has created favorable conditions for US producers to penetrate the Vietnamese market. Vietnam has completed registration procedures for 509 enterprises producing meat and meat products and 232 enterprises exporting seafood to Vietnam. The two countries are also actively opening their bilateral fruit markets, creating conditions for fruit exporters as well as consumers to enjoy the delicious and unique flavors of tropical and temperate regions.
Vietnam is also one of the first eight Asian countries to accept US biotechnological plant varieties. To date, all 61 applications from US businesses have been approved. The two sides have agreed on methods, processes, and procedures for animal and plant quarantine and food safety in a transparent and convenient manner, creating the best conditions for opening the markets for agricultural, forestry, and aquatic products of the two countries.
At the same time, Decree 73/2025/ND-CP issued on March 31, 2025 also reduces taxes to 0% for agricultural, forestry and fishery export products with strengths of the United States.
Trump Group breaks ground on $1.5 billion project in Hung Yen
On May 21, the first Trump-branded golf course, villa and resort project in Vietnam broke ground in Hung Yen province.
With an area of about 990 hectares, the Khoai Chau urban complex, eco-tourism and golf course project has a total investment capital of nearly 39,800 billion VND (equivalent to more than 1.5 billion USD).
This project is part of a strategic partnership between The Trump Organization - the family corporation of US President Donald Trump and Hung Yen Hospitality. This is the first Trump-branded project in Vietnam, called Trump International Hung Yen.
At the groundbreaking ceremony, Prime Minister Pham Minh Chinh said that the project is of great significance in promoting the Vietnam-US relationship to become increasingly deeper, more substantial and more effective. According to the Prime Minister, the presence of the Trump Group also affirms the confidence of foreign investors, including the US, in Vietnam.
The son of the US President - Eric Trump, Executive Vice President of The Trump Organization, said that Vietnam is currently one of the most dynamic and potential markets in the world. Therefore, according to him, the group is very proud to bring the Trump legacy to a country with vision, vitality and strong growth rate like Vietnam.
Step by step balancing the trade balance
The US is Vietnam's largest export market (accounting for 30% of total merchandise exports) and Vietnam is the US's 8th largest trading partner. In 2024, Vietnam's export turnover to the US will reach nearly 119 billion USD, an increase of 23.3% compared to 2023; imports from the US will reach 15 billion USD, an increase of 7.3%.
During a meeting with the US-China Economic and Security Review Commission (USCC) delegation of the US Congress on May 7, Prime Minister Pham Minh Chinh affirmed that Vietnam attaches importance to the Comprehensive Strategic Partnership with the US and sincerely wishes that the relationship between the two countries will maintain a positive development momentum, become increasingly substantive, and go into depth.
The Prime Minister said Vietnam is ready to negotiate tariffs with the US for the benefit of the people and businesses of the two countries, towards balanced and sustainable trade.
In fact, before US President Donald Trump imposed reciprocal tariffs in early April 2025 on a series of countries, including Vietnam, we had taken steps to gradually balance the trade balance with the US.
Specifically, in 2024, Vietnam will spend up to 15 billion USD importing goods from the US, an increase of nearly 8% compared to 2023. In particular, imports of animal feed and raw materials from the US last year reached nearly 1.02 billion USD, a sharp increase compared to less than 762 million USD in the previous year; imports of vegetables and fruits were 544 million USD, an increase compared to 332 million USD in 2023.
At the 6th meeting on US reciprocal tariffs on April 29, Prime Minister Pham Minh Chinh said that thanks to the implementation of many solutions, Vietnam has achieved initial positive results in trade negotiations, but challenges remain. Therefore, the Prime Minister requested agencies to closely monitor and grasp the situation and respond promptly and proactively.
One of the specific solutions mentioned by the Prime Minister is that relevant ministries and agencies must soon negotiate and sign contracts to purchase and import goods from the US such as liquefied petroleum gas (LNG), aircraft, medicine, medical supplies, agricultural products, etc. "This is to ensure a sustainable trade balance," said the Prime Minister.
In 2025, Boeing is expected to deliver about 14 737 Max aircraft to Vietjet. Previously, in 2017, Vietjet also ordered 100 aircraft, bringing the total number of 737 Max aircraft ordered by Vietjet from Boeing to 200.
In addition to proactively increasing imports, we also propose that the United States soon recognize Vietnam as a market economy and remove Vietnam from the D1 and D3 lists that restrict the export of high-tech products. This will contribute to bringing practical benefits to the two countries and improving the trade balance in a fair, harmonious and sustainable manner.
US Consul General in Ho Chi Minh City Susan Burns recently visited and worked in Can Tho City at the end of May.
According to information from the Can Tho Department of Foreign Affairs, in the first 4 months of 2025, the city's total export turnover to the United States reached a total value of more than 48 million USD. The main export items include: fragrant rice, seafood, agricultural products and processed products, garments, handicrafts, steel and steel products.
Can Tho City organized a working delegation to the United States in March 2025 to strengthen cooperation in the fields of education, urban development, environment and climate change response.
PV (Synthesis)
Source: https://baocantho.com.vn/viet-my-huong-toi-quan-he-thuong-mai-can-bang-a187378.html
Comment (0)