Hanoi: Vietnamese Minister of Industry and Trade Nguyen Hong Dien held phone talks with U.S. Trade Representative Jamieson L. Greer late Wednesday, commencing negotiations about economic and trade issues between both sides.

According to Kuwait News Agency, during the talks, Dien noted that Vietnamese ministries and sectors stand ready to address the U.S.’s concerns and work together to find mutually beneficial solutions based on the principle of harmonized interests and shared risks. This was stated in a press release by the Vietnamese Ministry of Industry and Trade.

The minister underscored his country’s commitment to developing its comprehensive strategic partnership with the U.S., expressing the desire to promote economic and trade relations that are balanced, stable, sustainable, and effective.

For his part, the U.S. trade representative welcomed the two sides’ agreement to negotiate a bilateral trade agreement, voicing confidence that they will soon reach appropriate solutions to promote stable and mutually beneficial economic and trade ties.

The Vietnamese-U.S. trade negotiations came amid mounting global trade tensions following U.S. President Donald Trump’s announced tariffs on imports from a number of trade partners, including Vietnam.