FILE PHOTO: U.S. President Donald Trump shakes hands with Vietnamese Prime Minister Nguyen Xuan Phuc at the Office of Government Hall in Hanoi, Vietnam, February 27, 2019. REUTERS/Leah Millis
December 23, 2020
WASHINGTON (Reuters) – U.S. President Donald Trump raised concern about his country’s trade deficit with Vietnam in a phone call on Tuesday with its Prime Minister Nguyen Xuan Phuc, the White House said.
The United States last week named Vietnam a currency manipulator, a move that trade experts said could pave the way for Trump to impose tariffs on Vietnamese goods before he leaves office in January.
“President Trump raised concerns regarding the trade deficit and urged Prime Minister Phuc to take bold steps to ensure fair and reciprocal trade between the United States and Vietnam,” White House spokesman Judd Deere said.
U.S. companies imported about $65 billion worth of goods from Vietnam in the first 10 months of 2020, compared with $66.6 billion for all of 2019.
The United States is Vietnam’s largest export market, accounting for over a quarter of its total export revenue in the first 11 months of this year. Its key exports to the United States include garments, electronics and wooden products.
(This story refiles to correct headline and paragraph 1 to show U.S. has trade deficit, not Vietnam)
(Reporting by Steve Holland in Washington; Writing by Eric Beech; Editing by Mohammad Zargham and Matthew Lewis)