Vietnam faces more challenges than opportunities because of U.S. tariffs but will still aim to meet its target of at least 8% growth this year, the Prime Minister said on Monday, ahead of the start of trade talks with Washington later this week.The Southeast Asian economy, which is heavily reliant on exports for growth, is facing a 46% tariff if a reduction cannot be negotiated before a U.S. moratorium expires in July.

"We have stayed calm and courageous and taken several appropriate measures," Pham Minh Chinh told parliament.

"Vietnam is among the first countries the U.S. has agreed to hold tariff negotiations with," he said, adding the first negotiation session will take place on Wednesday.