Vietnam's Ministry of Foreign Affairs announced on Friday that Vietnamese and U.S. delegations began bilateral talks on Thursday to implement the two countries' recent trade agreement on tariffs into concrete measures.

Foreign Ministry Spokesperson Phạm Thu Hằng stated at a regular press briefing in Hanoi that "this step followed a phone call between Vietnamese President Tô Lâm and U.S. President Donald Trump, where both leaders discussed the future of bilateral relations and trade issues between the two countries."

She added that "during the call, both sides reached a joint statement on establishing a fair and balanced trade framework between the two nations."

The spokesperson noted that the U.S. president appreciated Vietnam's stance on expanding market access for American products, including large-capacity vehicles, confirming that the U.S. would significantly reduce tariffs on a range of Vietnamese exports and continue coordinating with Vietnam to resolve outstanding issues, particularly in priority sectors.

Hằng clarified that the Vietnamese president urged the U.S. to recognize Vietnam as a market economy soon and lift restrictions on certain high-tech exports, noting that both sides agreed to take key measures to enhance their comprehensive strategic partnership. These include increasing high-level visits and expanding cooperation in economic, trade, investment, and advanced science and technology fields.

Under the new agreement, the U.S. will reduce tariffs on Vietnamese exports from 46% to 20%, while imposing a 40% tariff on transshipments through Vietnam from third countries.

This phone call came two days after the U.S. president signed an executive order on what he called "Liberation Day," imposing "reciprocal" tariffs on all countries worldwide, with Vietnam facing a 46% tariff on goods imported to the U.S.