The US Trade Deficit – Trump Negotiates

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The U.S. president is due to travel to Vietnam to attend an Asia-Pacific economic summit in November, which Phuc said would be an opportunity for the U.S. to assert its positive role in the region.

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As the two leaders sat down for formal talks, which also touched on North Korea, Trump was quick to raise the trade imbalance.

“We have a major trade deficit with Vietnam, which will hopefully balance out in a short period of time. We expect to be able to do that,” Trump said. He added that Vietnam had made a “very large order” worth billions of dollars that would create jobs for the U.S.

Phuc said U.S.-Vietnam relations have “undergone significant upheaval but today we have been able to become comprehensive partners.” He said he has been impressed by Trump’s friendliness and openness and was confident bilateral cooperation would be enhanced.

A joint statement released later Wednesday said Phuc expressed interest in acquiring more defense equipment from the United States, including additional Coast Guard cutters. The two leaders also looked into the possibility of a visit to a Vietnamese port by a U.S. aircraft carrier and expanded cooperation between the two navies, it said.