Viet Nam, U.S. vow to soon finalize bilateral agreement on reciprocal trade

The agreement was reached during the 8th round of ministerial-level negotiation between the two countries on November 10 (local time), held just ahead of the official technical-level talks scheduled for November 12–14 in Washington, D.C.

In a candid, open, and constructive atmosphere, both sides discussed key outstanding matters and outlined possible approaches to resolve them, while also reviewing broader aspects of the bilateral trade relationship.

U.S. Trade Representative Jamieson Greer acknowledged the progress achieved so far and welcomed the mutual agreement on the Joint Statement, which lays out the framework for a fair and balanced trade partnership. He stressed that the declaration provides a crucial foundation for expediting and successfully concluding the negotiation process.

Greer also commended Viet Nam's goodwill, systematic approach, and responsiveness to U.S. proposals, recognizing the constructive efforts of the Vietnamese negotiating team. He gave direct and generally positive feedback on several proposals made by the Vietnamese side.

For his part, Minister Nguyen Hong Dien reaffirmed Viet Nam's commitment to fostering a balanced and sustainable economic and trade relationship with the U.S. He highlighted the proactive measures Viet Nam has taken recently to strengthen bilateral trade ties.

Nguyen emphasized that finalizing the reciprocal trade agreement would not only reinforce trade relations but also deepen cooperation across multiple sectors, consistent with the Viet Nam–U.S. Comprehensive Strategic Partnership.

Building on this foundation, he put foward several proposals to help accelerate the negotiations and suggested that both sides adopt a pragmatic and flexible approach to ensure mutual benefit.

His proposals were well received by Trade Representative Greer, who tasked the U.S. technical team with further studying and discussing them with the Vietnamese counterparts.

Earlier, the U.S. officially reduced reciprocal tariffs on Vietnamese imports from 46 percent to 20 percent from August 1, 2025. Since April, Viet Nam and the U.S. have conducted multiple rounds of trade negotiations, including both technical and ministerial-level discussions.

Data from U.S. Customs shows that bilateral trade between the two countries reached US$149.7 billion in 2024. Viet Nam exported US$136.6 billion worth of goods to the U.S. and imported US$13.1 billion.

In the first five months of 2025, two-way trade surged by 36.5 percent year-on-year to US$77.4 billion./.