US Rejects Vietnam Tariff Deal: Lutnick's Firm 'No' Highlights Trade Imbalance

US Rejects Vietnam Tariff Deal: Lutnick's Firm 'No' Highlights Trade Imbalance and China's Influence. Washington D.C. - In a recent US Senate hearing, a significant exchange occurred between Senator John Kennedy and Commerce Secretary Howard Lutnick regarding potential tariff reciprocity with Vietnam. When questioned about whether the US would reciprocate Vietnam's removal of tariffs, Secretary Lutnick delivered a resounding "Absolutely not!" His response was further clarified by his explanation of the substantial trade imbalance between the two nations. Lutnick stated that Vietnam exports $125 billion worth of goods to the United States, while the US imports only $12.5 billion from Vietnam. He emphasized that a significant portion of Vietnam's exports to the US are actually sourced from China, making the proposed deal economically disadvantageous for the United States. This statement highlights the complexities of international trade relations and the challenges of navigating global supply chains. The hearing underscores the need for a careful consideration of trade agreements, ensuring fair and balanced partnerships.