Vietnam’s Ministry of Industry and Trade announced on Friday that the White House had published a decree signed by President Donald Trump adjusting reciprocal tariffs.
According to the accompanying appendix, Vietnam is among the countries receiving a reduced tariff rate.
In late April, after the U.S. announced a postponement of the reciprocal tariff imposition and agreed to begin negotiations with Vietnam, Prime Minister Pham Minh Chinh established a government negotiation team led by the trade ministry and directed the formulation of a negotiation plan.
The ministry said during the negotiations, Vietnam and the U.S. made progress on a range of issues, including tariffs, rules of origin, customs procedures, agriculture, non-tariff measures, digital trade, services and investment, intellectual property, sustainable development, supply chains, and broader trade cooperation.
In the coming time, both sides will continue discussions and work toward finalizing a reciprocal trade agreement based on the principles of openness, constructiveness, equality, mutual respect, mutual benefit, and consideration of each country’s level of development, the ministry said.
“The two sides will also strive to foster stable economic, trade, and investment relations that harmonize interests and reflect the spirit of the Vietnam–U.S. Comprehensive Strategic Partnership,” it added.
According to data from U.S. Customs, two-way trade between Vietnam and the U.S. reached $149.7 billion in 2024. Vietnam exported $136.6 billion to the U.S. and imported $13.1 billion in return.
This resulted in a trade surplus of $123.5 billion for Vietnam, making it the U.S.’s third-largest trade surplus partner, following China and Mexico.
In the first five months of the year, two-way trade between Vietnam and the U.S. reached $77.4 billion, up 36.5% compared to the same period in 2024. Vietnam’s exports to the U.S. totaled $71.7 billion, an increase of 37.3%, while imports from the U.S. reached $5.7 billion, up 30.7%.
Vietnam recorded a trade surplus of $64.8 billion with the U.S. during this period, up 29% year-on-year, ranking fourth globally, after China, Mexico, and Iceland.
