On the afternoon of August 1, 2025, Vietnam’s Ministry of Industry and Trade issued a press release regarding ongoing reciprocal trade negotiations between Vietnam and the United States.

According to the Ministry, since late April 2025, Vietnam and the U.S. have held multiple rounds of reciprocal trade negotiations at both technical and ministerial levels.

The Vietnamese government’s negotiation delegation is headed by Minister of Industry and Trade Nguyen Hong Dien, with members including leaders and officials from various ministries and agencies: Industry and Trade, Foreign Affairs, Public Security, Finance, Justice, Agriculture and Environment, Science and Technology, Home Affairs, Construction, Health, the State Bank of Vietnam, and the Vietnamese Embassy in the United States.

Several in-person and virtual meetings have taken place between Minister Nguyen Hong Dien and U.S. Trade Representative Jamieson Greer, as well as U.S. Secretary of Commerce Howard Lutnick.

Throughout the negotiation process, both sides have focused discussions and made significant 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 trade cooperation.

In the early morning of August 1, 2025 (Vietnam time), the White House published a Presidential Proclamation issued by President Donald Trump on adjustments to reciprocal tariff rates. According to the proclamation, the U.S. will revise reciprocal tariffs for 69 countries and territories listed in Annex I. Under this annex, Vietnam’s reciprocal tariff rate will be reduced from 46% to 20%.

In the coming period, both sides will continue discussions and implement follow-up steps to finalize the reciprocal trade agreement based on the principles of openness, constructiveness, equality, mutual respect for independence, sovereignty, political systems, mutual benefits, and consideration of each other’s development levels.

The two countries will also work to promote stable economic, trade, and investment relations that harmonize interests and match the Comprehensive Strategic Partnership between Vietnam and the United States.

According to data from U.S. Customs for 2024, bilateral trade between Vietnam and the United States reached USD 149.7 billion, with Vietnam exporting USD 136.6 billion and importing USD 13.1 billion. Vietnam’s trade surplus with the U.S. stood at USD 123.5 billion, ranking third among countries with the highest trade surpluses with the United States (after China and Mexico).

In the first five months of 2025, Vietnam - U.S. bilateral trade reached USD 77.4 billion, up 36.5% year-on-year. Of this, Vietnam exported USD 71.7 billion (a 37.3% increase year-on-year) and imported USD 5.7 billion (up 30.7%). Vietnam’s trade surplus with the U.S. was USD 64.8 billion (up 29% year-on-year), ranking fourth among countries with the largest trade surpluses with the United States (after China, Mexico, and Iceland).