On October 26, 2025, Vietnam and United States announced the Joint Statement on the Framework for a Reciprocal, Fair, and Balanced Trade Agreement (the “Joint Statement”) on the occasion of President Donald Trump and Prime Minister Pham Minh Chinh attending the ASEAN Summit held from October 26 to 28, 2025, in Kuala Lumpur, Malaysia.

The Joint Statement reflects the consensus reached by Vietnam and United States on the outcomes of reciprocal trade negotiations between the two countries to date. It also acknowledges the efforts of government agencies and businesses from both sides in fostering an economic and trade relationship based on balance, stability, and sustainability, in line with the Vietnam-United States Comprehensive Strategic Partnership.

The Joint Statement outlines the main elements of the Reciprocal, Fair, and Balanced Trade Agreement, under which both sides will work constructively to address mutual concerns related to non-tariff barriers; reach consensus on commitments concerning digital trade, services, and investment; and discuss issues related to intellectual property rights, sustainable development, and cooperation to enhance supply chain resilience.

In the coming period, both sides will continue discussions and take further steps toward completing the Reciprocal, Fair, and Balanced Trade Agreement on the principles of openness, constructiveness, equality, respect for independence, sovereignty, and political institutions, mutual benefit, and consideration of each other’s development levels.

According to the Ministry of Industry and Trade, since late April 2025, Vietnam and the United States have conducted multiple rounds of reciprocal trade negotiations at both technical and ministerial levels. The Vietnamese Government delegation was led by Minister of Industry and Trade Nguyen Hong Dien, with members comprising leaders and officials from various ministries and agencies, including 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 direct and virtual negotiation sessions took place between Minister Nguyen Hong Dien and U.S. Trade Representative Jamieson Greer, as well as U.S. Secretary of Commerce Howard Lutnick.

In the early hours of August 1, 2025 (Vietnam time), the White House published a Presidential Executive Order signed by President Donald Trump on the adjustment of reciprocal tariffs. Under this order, the United States revised reciprocal tariff rates for 69 countries and territories listed in Annex I, reducing Vietnam’s rate from 46% to 20%.

According to data from the General Department of Vietnam Customs, as of the end of September 2025, total bilateral trade turnover reached approximately USD 126.4 billion, up 27.3% year-on-year. Vietnam’s exports to the United States were valued at USD 112.8 billion, a 27.7% increase year-on-year, accounting for 32.3% of total exports, while imports from the United States reached USD 13.66 billion, up 23.6% year-on-year, accounting for 4.1% of total imports.