Vietnam steps up talks with US to reduce hefty tariff

HANOI (Reuters) -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. The Vietnamese trade ministry said in a statement released on Saturday that the meeting, which occurred in Jeju, South Korea, following the 31st APEC Ministerial Meeting on Trade, symbolised both nations' commitment to fostering a stable economic, trade, and investment relationship. The talks follow a phone call last month between Vietnamese trade minister Nguyen Hong Dien and U.S. Trade Representative Jamieson Greer that officially started negotiations.