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Trade Deals with US Should Not Hurt Third Nations, Says China on Vietnam Pact

Beijing: China on Thursday stated that any bilateral trade agreement with the United States should not be aimed at or disadvantage third nations. This response from Beijing followed the announcement of a trade deal between the US and Vietnam, where Washington agreed to reduce tariffs on Hanoi by 20% and 40% on goods transiting through the Southeast Asian nation.

According to Anadolu Agency, China's Foreign Ministry spokeswoman Mao Ning emphasized during a live-streamed press conference in Beijing that China consistently advocates for resolving trade disputes through equal consultation. She stressed that relevant treaties should not be designed to target or harm any third party.

The trade deal was announced by President Donald Trump after discussions with To Lam, the general secretary of the Communist Party of Vietnam. Trump highlighted the agreement on Truth Social, describing it as a "Great Deal of Cooperation" between the US and Vietnam. He detailed that Vietnam would impose a 20% tariff on all goods entering the United States and a 40% tariff on transshipped goods.

Previously, Trump had set a 46% tariff on Vietnam, which was temporarily paused before a 90-day deadline set to expire on July 9. With the new agreement, the US will gain "total access" to Vietnam's markets, allowing American goods to enter Vietnam tariff-free.

Trump expressed optimism about the future of US-Vietnam trade relations, particularly highlighting the potential market for SUVs or Large Engine Vehicles in Vietnam, which he believes will enhance the product offerings within the country.