Vietnam intensifies negotiations with the United States to drop high tariffs.

Jin10 Data reported on May 17th that on Friday, Vietnam and the United States held their first ministerial-level direct negotiations. The U.S. is set to impose a 46% tariff on imports from Vietnam, which could severely impact Vietnam's economic rise. The Vietnamese Ministry of Trade stated in a statement on Saturday that the meeting held in Jeju, South Korea, after the 31st Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting symbolizes the commitment of both countries to promote stable economic, trade, and investment relations. Last month, Vietnamese Trade Minister Nguyen Hong Dien and U.S. Trade Representative Katherine Tai held a phone call to officially commence negotiations. "The U.S. Trade Representative's Office agrees with Vietnam's current practices and proposals," the Ministry of Trade's statement said. "The U.S. hopes that, with mutual efforts, the technical-level negotiations in the coming days will yield positive results."