Latest update on Vietnam–U.S. reciprocal tariff negotiations

At the Ministry of Industry and Trade’s October press conference, Deputy Minister Nguyen Sinh Nhat Tan shared updates on Vietnam–U.S. reciprocal tariff negotiations.

At the Ministry of Industry and Trade’s (MoIT) regular press conference held on October 8, Deputy Minister Nguyen Sinh Nhat Tan briefed the media on the progress of reciprocal tariff negotiations between Vietnam and the United States.

Ongoing efforts toward a balanced and mutually beneficial agreementIn the early hours of August 1, 2025 (Vietnam time), the White House published an Executive Order by President Donald Trump adjusting reciprocal tariff rates for 69 countries and territories listed in Annex I. Under the new policy, Vietnam’s reciprocal tariff rate was reduced from 46% to 20%.

Deputy Minister Nguyen Sinh Nhat Tan informed about the progress of reciprocal tax negotiations with the United States.

Deputy Minister Nguyen Sinh Nhat Tan informed about the progress of reciprocal tax negotiations with the United States.

Deputy Minister Nguyen Sinh Nhat Tan stated that both sides have maintained regular and continuous negotiation sessions. “The U.S. has expressed positive assessments of the progress achieved so far in the reciprocal trade negotiations. This is a very encouraging result,” he said.

He added that in October and November 2025, the Vietnamese negotiating delegation would visit the U.S. to continue discussions and advance toward finalizing an agreement. The two sides are working on the basis of openness, equality, mutual respect for sovereignty and political systems, and mutual benefit consistent with the spirit of the Vietnam-U.S. Comprehensive Strategic Partnership.

Trade expected to reach record highs

Also at the press conference, Bùi Huy Sơn, Director General of the Department of Planning, Finance, and Enterprise Management under the MoIT, reported that foreign trade remained a bright spot for Vietnam’s economy.

Mr. Bui Huy Son - Director of the Department of Financial Planning and Enterprise Management informed about the trade situation in the first 9 months of 2025.

Mr. Bui Huy Son - Director of the Department of Financial Planning and Enterprise Management informed about the trade situation in the first 9 months of 2025.

In the first nine months of 2025, total import-export turnover reached USD 680.6 billion, up 17.3% year-on-year. Of this, exports were valued at USD 348.74 billion, up 16%, exceeding the annual growth target of 12%. The third quarter alone saw exports of USD 128.57 billion, up 18.4% year-on-year.

The U.S. remained Vietnam’s largest export market, reaching USD 112.8 billion (up 27.7%), followed by China (USD 49.6 billion, up 11.3%), the EU (USD 41.7 billion, up 9.3%), ASEAN (USD 28.5 billion, up 2.9%), and Japan (USD 19.7 billion, up 9%).

Imports also rose strongly, reaching USD 332 billion in the first nine months (up 18.8%), with the domestic sector accounting for USD 105.7 billion and the foreign-invested sector USD 226.2 billion. Despite the higher import growth, the trade balance still recorded a surplus of USD 16.8 billion, contributing positively to macroeconomic stability and foreign reserves.

“If there are no major disruptions, total trade turnover for 2025 could reach a new record of around USD 900 billion,” predicted Mr. Son.

Accelerating new FTA negotiations

Looking ahead, the MoIT will continue implementing Politburo Resolution No. 59-NQ/TW (January 24, 2025) on international economic integration. The Ministry is also closely monitoring U.S. trade and tariff policies to prevent potential disadvantages for Vietnamese exports.

In the final quarter of 2025, Vietnam aims to launch FTA negotiations with the Mercosur bloc and the Gulf Cooperation Council (GCC), while expediting talks with Pakistan and finalizing the FTA with the European Free Trade Association (EFTA).

The Ministry will continue supporting domestic enterprises to overcome export challenges, expand markets, and reduce reliance on FDI firms through regular dialogues and trade promotion programs. Efforts will also be strengthened to ensure proper enforcement of origin regulations, prevent trade remedy circumvention, and maintain Vietnam’s credibility in global trade.

The press conference also addressed other key topics of public interest, including the implementation of Resolution No. 70, preparations for the 2025 Autumn Fair, public investment disbursement, and the E-commerce Law draft, alongside updates on the reciprocal tariff talks with the U.S.

Kim Bui
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