Substantial advancements achieved during the second round of trade negotiations between Vietnam and the US.
Vietnam and the United States concluded the second round of negotiations for their reciprocal trade agreement in Washington D.C. from May 19-22, as scheduled. The negotiations were led by Vietnam's Minister of Industry and Trade, Nguyen Hong Dien, and US Trade Representative, Jamieson Greer.
The discussions were marked by goodwill, honest dialogue, and a shared commitment to upholding institutional integrity, mutual benefit, and alignment with each country's development level and international obligations. The delegations exchanged valuable information on their respective current policies, clarified the language in the draft agreement, and explored a comprehensive approach to resolving fundamental issues of mutual concern to speed up the negotiation process.
Both Vietnam and the US made significant progress during the three-day event, identifying areas of convergence, shared positions, and matters requiring further discussion. Both parties agreed on timelines for providing feedback on the draft agreement, proposing revised language, and holding online meetings ahead of the next round of negotiations.
As a result of the negotiations, Vietnam and the US identified key issues for continued focus, with ambition for early June 2025. US Trade Representative Jamieson Greer praised Vietnam's efforts in addressing US concerns and expressed a desire to continue technical-level and ministerial-level exchanges to reach an agreement as soon as possible.
Minister Dien welcomed the Ambassador's remarks and reaffirmed Vietnam's commitment to fostering a balanced and sustainable economic and trade relationship with the US, benefiting both countries' citizens and businesses. He concurred with Ambassador Greer's proposal for both sides to intensify technical-level exchanges to reach an agreement that meets the expectations and conditions of each party.
Vietnam and the US traded over $149.6 billion in goods in 2024, with US exports to Vietnam reaching $13.1 billion, up 32.9%, and US goods imports from Vietnam totaling $136.6 billion, up 19.3%. However, with a trade deficit of $123.5 billion in 2024, Vietnam risks facing a 46% tariff if it does not reach an agreement with the US by early July 2025, potentially impacting about 30% of Vietnam's annual GDP.
References:[1]: Vietnam+, 2025. "Vietnam US trade deal inches closer as clock ticks." https://vietnamplus.vn/vietnam-us-trade-deal-inches-closer-as-clock-ticks/269678.vnp[4]: Vietnam News, 2025. "Vietnam-US trade talks make progress."https://vietnamnews.vn/economy/927499/vietnam-us-trade-talks-make-progress.html
- The international trade negotiations between Vietnam and the United States, held under the shadow of shared cultural values and mutual interests, aimed to create a business environment that benefits both countries' economies and citizens.
- The discussions delved into various areas including technology, finance, and regional policies, with each delegation seeking to align their respective approaches for a mutually beneficial agreement.
- The progress made in these talks was significant, particularly in terms of addressing political and environmental concerns, as both nations envision a future of sustainable growth in their business relationships.
- As the negotiations continue, the focus remains on ensuring fairness, transparency, and adherence to international financial obligations, making general-news headlines across the globe.
- With the stakes high, as demonstrated by the potential tariff implications for Vietnam, both countries are committed to finding solutions that maintain a balance between trade and environmental considerations, underlining the importance of international cooperation in shaping the future of business and finance globally.
