This commitment was announced Wednesday as part of the promotion of Vice President Kamala Harris’s visit to Vietnam.
“Farmers and pork producers in the United States will have greater access to markets in Vietnam, the seventh-largest agricultural export market in the United States, as a result of Vietnam’s positive consideration of our proposal to eliminate or reduce MFN import tariffs on corn, wheat and pork products,” the White House said in a press release.
He then added that these tariff cuts allow American farmers to provide Vietnam with quality products at competitive prices, while also helping to reduce the United States’ trade deficit with Vietnam.
In the WTO, each nation sets limits on its tariffs and is obliged to give everyone MFN status, an expression that seems to suggest that it is some kind of special treatment for a given country, but that actually means charging their respective tariffs. to all members equally.
In promoting ethnic minority and women-owned businesses, the U.S. government announced the Enhancing Private Sector Competitiveness (IPSC) project, a US $ 36 million flagship USAID effort to grow women-owned businesses and businesses. ethnic minorities and promote job growth in rural areas by adopting new American technology.
On supporting Vietnam’s transition to a digital economy, the United States government announced Workforce for an Innovation and Startup Ecosystem (WISE), a USAID project that provides up to $ 2 million to support Vietnam’s effort to make the transition from an economy dominated by intensive and low-skilled labor, to a workforce better equipped to participate in the global digital economy.
USAID is the United States agency for International Development.
From the perspective of the White House, developing the digital skills of that Asian country will increase trade opportunities between the two nations and promote American technologies.