Vietnam urges the United States to delay the taxation of prices

The senior Vietnam leader in Lam asked President Trump to delay the taxation of prices for at least 45 days so that the two parties can avoid a decision that would devastate the Vietnamese economy and increase the prices of American consumers.

The 46% rate rate that the United States said it would impose on Vietnam is among the highest countries. The prospect of such a steep price has left Vietnam with a feeling of cervical whip and a deep apprehension. It also presents a lively contrast with the recent adoption of Washington by Hanoi as a major rampart against China and a manufacturing destination for many brands of American clothing.

Mr. LAM’s proposal to President Trump was presented in a letter dated on Saturday, according to a copy obtained by the New York Times. In the letter, Mr. Lam called on Mr. Trump to appoint an American representative to direct negotiations with Ho Duc Phoc, a Vietnamese Deputy Prime Minister, “in order to achieve an agreement as soon as possible”.

Mr. Lam had been one of the world’s leading leaders to contact Mr. Trump after the prices were announced. During a telephone call, he proposed to reduce the prices on American imports to zero and urged Mr. Trump to do the same, according to the Vietnamese government. Vietnam said its prices on American products are on average 9.4%.

Trump later described the call as “very productive”.

In his letter, Mr. Lam asked Trump to meet him in person in Washington at the end of May “to jointly conclude an agreement on this important affair, for the benefit of our peoples and contribute to peace, stability and development in the region and in the world”.

The Vietnam Ministry of Foreign Affairs has not responded to a request for comments.

Vietnam, which faces punishing prices with China, Cambodia and Laos, would be the most difficult economy in Asia if prices are imposed as expected on Wednesday, according to economists. The United States is the largest export market in Vietnam, representing around 30% of total exports in the country. A price rate of 46% would put 5.5% of the gross domestic product of Vietnam at risk, according to ING, a Dutch financial service company.