Vietnam US trade talks near final outcome

U.S. Trade Representative Jamieson Greer expressed appreciation for Vietnam's efforts to balance trade between the two nations during a recent meeting in New York. The two leaders discussed the importance of economic, trade, and investment cooperation, which directly benefits businesses and individuals while contributing to each country's development.

Vietnam has been actively encouraging cooperation activities and increasing purchases of goods from the U.S. to move bilateral trade towards greater balance. This strategy has generated additional orders, jobs, and direct benefits for businesses and workers in both countries.

Ambassador Greer acknowledged that the two negotiating teams had put in significant efforts and achieved substantial progress, bringing them very close to a final outcome. The U.S. and Vietnam have been engaged in multiple rounds of negotiations under the reciprocal trade agreement, holding relatively close positions. In October 2025, they agreed to issue a joint statement on a framework for reciprocal, fair, and balanced trade.

This statement outlined the key elements of the agreement, including addressing concerns about non-tariff barriers, finalizing commitments related to digital trade, services, and investment, and discussing intellectual property. Strengthening cooperation to enhance supply chain resilience was also discussed.

Vietnam-US trade reached approximately $172.5 billion in 2025, with Vietnam's exports to the U.S. exceeding $153 billion and imports from the U.S. reaching $19.3 billion. In the first eight months of 2026, bilateral trade continued to grow, hitting a record $137.4 billion. Vietnam exported $122 billion worth of goods, up 23.2%, while imports from the U.S. exceeded $15.4 billion, up 26.8% on-year.

To secure its position in the U.S. market, Vietnam must accelerate product upgrades and ensure supply chain transparency. The U.S.-Vietnam partnership is targeting tilapia development and soy-based aquafeed trade, with the U.S. investing $15.2 million in a five-year project. This initiative aims to improve Vietnam's tilapia value chain, expand trade in soy-based aquaculture feed, and tilapia products. Vietnam has been urged to strengthen compliance and competitiveness to expand its access to the U.S. market.