Vietnam’s Top Leader Readies Washington Visit as Tariff Deadline Looms

To Lam’s prospective visit comes amid stalled online negotiations, with Vietnam urging U.S. officials to recalibrate the high tariff rate in light of a $12.2 billion trade surplus and record $13.8 billion in exports to the U.S. in May. 

Washington has also pressed Hanoi to reduce reliance on Chinese-sourced components - especially in tech goods assembled in Vietnam - to qualify for lower duty bands. Vietnamese firms, while willing, warn that shifting supply chains takes time and significant investment.

With the 90-day suspension of 46% levies set to expire July 8, Vietnam and U.S. trade chiefs will need to nail down a tariff framework - potentially in the 20 - 25% range - either through direct leader-level talks or further ministerial meetings to avert a disruptive escalation in duties.