• The U.S. has labeled Vietnam's trade deficit as "unsustainable" amid tariff negotiations.
• Vietnam's trade surplus with the U.S. reached over $123 billion last year.
• Recent talks aim to mitigate the impact of a 46% tariff set to take effect in July.
• Vietnam seeks to import more high-tech goods from the U.S. to balance the trade equation.
• Discussions indicate both countries' commitment to fostering stronger economic ties.

The United States has expressed concerns over Vietnam's trade deficit, describing it as "unsustainable" as the two countries engaged in negotiations regarding tariffs. Vietnam, which exports significantly to the U.S., is attempting to persuade the administration to reconsider a proposed 46% tariff on its goods set to take effect in July, following earlier talks that aimed at fostering a more favorable trade balance for both nations, according to Channel News Asia and Bangkok Post.

In discussions held recently, Robert Kaproth, a senior U.S. Treasury official, emphasized Vietnam's need to address illegal trade practices while highlighting the country's aspirations to increase imports of U.S. high-tech products as a means to reduce its substantial trade surplus, which amounted to over $123 billion last year, according to Channel News Asia and Reuters.

The urgency of the talks was underscored during Vietnam's first direct ministerial-level negotiations, which occurred in Jeju, South Korea, following a recent APEC Ministerial Meeting on Trade. With Vietnam's reliance on the U.S. market for exports and foreign investments, both countries are eager to cultivate a stable trade relationship amidst rising tensions, according to Channel News Asia and Reuters.

Prime Minister Pham Minh Chinh reiterated Vietnam's commitment to fostering balanced and sustainable trade relations and acknowledged that the negotiations' outcome will significantly impact Vietnam's economic trajectory. Tuan emphasized the nation's demand for specific U.S. products, including those in energy and technology sectors, in an effort to align more closely with American trade priorities, as reported by Bangkok Post and Reuters.