Vietnam’s Deputy Prime Minister Ho Duc Phoc is expected to meet with Treasury Secretary Scott
Bessent in Washington, DC, on Wednesday, as the Trump administration continues negotiations with
several countries regarding the president’s tariffs, a person familiar with the meeting told CNN.
Bessent has also been in talks with representatives of Japan and South Korea, in addition to
multiple other countries. Vietnam is among the nations hit with the highest “reciprocal” tariff
rates of 46%, which took effect today, according to the new tariff regime the Trump administration
unveiled last week. The tariffs that went into place Saturday and today came with several notable
exclusions: Steel, aluminum and autos (three areas already subjected to their tariffs); copper and
lumber; plus pharmaceuticals, semiconductors, and critical minerals. Those could be next, President
Donald Trump has warned. Copper and critical minerals: Copper is a critical cog in the ongoing
electrification of America and industries such as defense. The US imports about 50% of the copper it
uses, and demand is only expected to grow, especially as energy-consuming industries such as
artificial intelligence and blockchain boom.