Vietnam and the US officially kicked off talks over the Trump administration’s threatened 46% tariff on goods from the Southeast Asian nation, which is racing to take advantage of a 90-day reprieve on the levy.

Vietnam's trade minister spoke to U.S. Trade Representative Jamieson Greer by phone on Wednesday, state-run media reported, kicking off trade talks as whopping 46% U.S. tariffs loom, threatening growth in Southeast Asia's industrial hub.

Vietnam and the United States have officially begun talks over threatened 46% US tariffs on Vietnamese imports, as the country races to take advantage of a 90-day reprieve from the levies.