Vietnam urges the United States to delay the taxation of prices

The senior Vietnams leader in Lam asked President Trump to delay the taxation of prices for at least 45 days so that the two parties can avoid a decision that would devastate the Vietnamese economy and increase the prices of American consumers.

The 46% rate rate that the United States said it would impose on Vietnam is among the highest countries. The prospect of such a steep price has left Vietnam with a feeling of cervical whip and a deep apprehension. It also has a lively contrast to the recent hunoi Washingtons of Washingtons as a major rampart against China and a manufacturing destination for many brands of American clothing.

Mr. Lams' proposal to President Trump was presented in a letter dated on Saturday, according to a copy obtained by the New York Times. In the letter, Mr. Lam called on Mr. Trump to appoint an American representative to direct negotiations with Ho Duc Phoc, a Vietnamese Deputy Prime Minister, in order to achieve an agreement as soon as possible.

Mr. Lam had been one of the world's leading leaders to contact Mr. Trump after the prices were announced. During a telephone call, he proposed to reduce the prices on American imports to zero and urged Mr. Trump to do the same, according to the Vietnamese government. Vietnam said its prices on American products are on average 9.4%.

Trump later described the call as very productive.

In his letter, Mr. Lam asked Trump to meet him in person in Washington at the end of May to jointly reach an agreement on this important issue, for the benefit of our peoples and contribute to peace, stability and development in the region and in the world.

The Vietnam Foreign Ministry of Affairs has not responded to a request for comments.

Vietnam, which faces punishing prices with China, Cambodia and Laos, would be the most difficult economy in Asia if prices are imposed as expected on Wednesday, according to economists. The United States is the largest export market in Vietnams, representing around 30% of the country's total exports. A price rate of 46% would put at risk 5.5% of the gross domestic product Vietnams, according to ING, a Dutch financial service company.

This would also harm American consumers because Vietnam is crucial in the world manufacturing supply chain. For decades, the country has built its economy to attract foreign investments with a cheap workforce and a young workforce. He is now a large manufacturer of brands such as Adidas and Lululemon. Nike makes around 50% of his shoes in Vietnam.

After Mr. Trump imposed prices on China during his first mandate, Vietnam benefited from companies that moved their manufacture there.

The speed at which Vietnam has made its offer of zero prices percent reflects governments concerned about the fact that certain international manufacturers in the country may be tempted to move to China, said Ben Bland, director of the Asia-Pacific program at Chatham House, a group of reflection based in London.

China has more firepower, more scale, said Bland. So fear is that you mainly see things like the manufacture of electronics going to China in the medium term.

Within Hanoi, the recent moves of the Trump administration have put doubts about the reliability of the United States, which has raisedly crowned Vietnam. In 2023, the two former enemies ceased a new strategic relationship, a decision considered as an important step in American foreign policy five decades after the Vietnam War.

The Biden administration saw Vietnam, one of the rare nations of Southeast Asia to have publicly rejected China's assertion in the Southern China Sea as an American effort to counter the mounting ambitions of Chinas in the region.

The position of the Vietnams in the Pacific, his point of view on China, his desire to work with America, was his strongest card, said Huong Le Thu, deputy director of the program for Asia for the international crisis group. Trump does not see it this way. He does not see allies or strategic values. He just sees figures and prices.

While explaining the prices, Trump said that Vietnam is 90%in the United States, a figure apparently based on the current commercial surplus of Vietnams with the United States, worth $ 123.5 billion. (Vietnam challenged this calculation.)

The prices are at a precarious time for Mr. Lam, who must obtain a strong economic performance while he heads for the party congress for the following years, where the main leaders of the country will be selected.

More specifically, the government aims to achieve 8% growth in gross domestic product in the context of its desire to guarantee intermediate income status, a designation of the World Bank, said Karl John of Asia Trade Experts, a business firm.

Even before the announcement of Mr. Trumps' price, Vietnam worked to win the favor of the new administration. He signed temporary offers to import American liquefied natural gas, reduces certain prices on American imports and allowed SpaceX to open a business to launch its Satellite Starlink Internet service in Vietnam. The Trump organization is developing a golf project and a $ 1.5 billion hotel project in Mr. Lams Home province.

Alexandra Stevenson and Matthew Mpoke Bigg contributed the reports.

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