Zero tariffs on U.S. goods: Vietnam’s bold proposal to Donald Trump to declare trade deficits
Vietnam’s proposal to reduce tariffs
The son tried to propose various measures to lower the tariff rate imposed on the country on Sunday. A report on the government’s official information channel mentioned: “Vietnam is ready to negotiate to raise import tariffs to 0% of U.S. goods, increase procurement of strong and demanding U.S. products in Vietnam, while creating more favorable conditions for U.S. businesses to operate and invest in Vietnam.”
Peter Navarro rejects the proposal
But later that day, senior U.S. trade adviser Navarro, based on the report, rejected Fox News’ appearance, calling it a “national emergency.” Navarro said the U.S. would not negotiate with Vietnam on the issue, saying the trade deficit with Vietnam was “out of control” and complained that the country “cheated” by remarking Chinese goods as themselves and employed unfair trade practices.
Trade deficit data
Navarro also stressed, “If you just lower our tariffs and they lower our tariffs, we will still trade around $120 billion with Vietnam,” Newsweek quoted Newsweek.
According to data provided by the U.S. Trade Representative’s Office, the U.S. trade deficit with Vietnam is $123.5 billion and imports are $136.6 billion.
FAQ
Why does Vietnam recommend lowering its tariffs on U.S. goods?
Vietnam wants to reduce the impact of U.S. tariffs and avoid a 46% tax on Vietnamese imports by proposing to lower its own tariffs to zero.
What was Peter Navarro’s response to the offer?
He rejected the proposal, saying the trade deficit with Vietnam is a national emergency that requires urgent action.
