Vietnam pushes forward trade talks to address U.S. tariff pressure

HANOI, May 18 (Xinhua) -- Vietnamese Minister of Industry and Trade Nguyen Hong Dien held talks with U.S. Trade Representative Jamieson Greer Friday on Jeju Island, South Korea, Vietnam News Agency reported.

The meeting marked the first in-person negotiation at the ministerial level between the two countries following the online meeting on April 12 to implement the negotiation of the Vietnam-U.S. Reciprocal Trade Agreement.

According to the report, the two sides reached broad consensus on the negotiation principles, methodology, agenda, and schedule, laying a solid foundation for further substantive progress.

Greer appreciated Vietnam's goodwill and proactiveness in preparing for the negotiations between the two sides, and generally agreed with Vietnam's approach and proposals, the state-owned media outlet added.

The meeting came after the U.S. postponed the implementation of the 46 percent tariff on Vietnam until July and agreed to initiate formal negotiations with Vietnam.

In response, Vietnamese Prime Minister Pham Minh Chinh established a high-level negotiation team led by Dien and instructed the formulation of a detailed negotiation plan.

Separately, local newspaper Tuoi Tre (Youths) reported Friday that the Vietnamese government has approved a 1.5-billion-U.S.-dollar investment project by the Trump Organization and its partners in northern Hung Yen province.

The project includes residential areas, eco-tourism zones, and luxury golf course, and was proposed during a meeting between Chinh and Trump Organization representatives in March. Enditem