The publication of the Joint Declaration on the Framework of the Reciprocal Trade Agreement between Vietnam and the United States marks an important development in bilateral economic relations. The Ministry of Industry and Trade said that this agreement will open up deeper market access, reduce non-tariff barriers and strongly promote cooperation in the fields of digital trade, services, investment and sustainable development. This is considered a favorable time for businesses of the two countries to make a breakthrough in the new period.
Fair tariffs – Competitive advantages for Vietnamese goods
According to experts, the fact that the United States maintains a reciprocal tax rate of 20% for goods originating from Vietnam and conducts a review of the list of 0% taxes has helped Vietnamese businesses maintain a competitive advantage in the world's largest market. Compared to many other countries, this tariff reflects the goodwill of the United States in promoting a two-way trade balance.
TS. Ho Quoc Tuan (University of Bristol, UK) said that this signal is especially meaningful when Vietnam avoids the risk of higher tariffs and at the same time increases the opportunity to expand market share in the United States. Textiles, footwear, wood, agriculture and fisheries... is forecasted to be the biggest beneficiary of taxes when taxes are reduced, creating a "golden lever" for exports.
In fact, the trade turnover between Vietnam and the United States is growing tremendously. As of September 2025, the total turnover reached about 126.4 billion USD, up 27.3% over the same period. In 2024 alone, exports to the United States will reach 119.5 billion USD, accounting for most of the total bilateral turnover.
In particular, the fruit and vegetable industry recorded an increase of more than 60% in the first 9 months of 2025, reaching over 400 million USD. The textile and garment sector – which will reach nearly $17 billion in exports to the United States in 2024 – also expects deeper incentives at the upcoming rounds of negotiations.
Import dimension: The driving force for balancing the trade balance
On the import side, Vietnam continues to record an upward trend from the United States. In the first 9 months of 2025, import turnover will reach nearly 14 billion USD, up 23.6% over the same period. Key commodity groups include:
- Computers and components: more than $4 billion (up 24%)
- Machinery and equipment: 915 million USD (up 14.6%)
- Raw plastics: 855 million USD (up 46%)
This figure shows that the trade balance – which is heavily tilted towards Vietnam – is gradually becoming more balanced, in line with US expectations for long-term cooperation.
Vietnam is also committed to expanding market access for the majority of agricultural and industrial goods from the United States, and simplifying the process of importing medical and pharmaceutical equipment. The adoption of U.S. safety and emission standards demonstrates Vietnam's initiative in integrating with international practices.
Many major agreements have been signed in recent years, such as Vietnam Airlines' order for 50 Boeing aircraft worth more than 8 billion USD, or about 20 memorandums of understanding on importing US agricultural products worth nearly 3 billion USD. These actual transactions reinforce the belief that the reciprocal agreement is creating a strong transformation for the economy.
Operating prudence: Avoid dependence on one market
Despite opening up many opportunities, experts warn that Vietnam needs to be cautious in its long-term direction. The United States currently accounts for about 30% of Vietnam's total exports – a large proportion and potentially risky depending on the market.
As trade barriers to U.S. goods continue to be removed, Vietnam needs to:
- Diversifying export markets
- Domestic supply chain development
- Develop a strategy to reduce trade differences
- Improving added value for export products
Expert Nguyen Ngoc Anh (Depocen) said that proactive management will help Vietnam ensure sustainability and avoid passivity in the face of global trade policy fluctuations.
Expectations for a period of sustainable and mutually beneficial cooperation
The framework of the Vietnam-US Reciprocal Trade Agreement is opening a new chapter for bilateral economic relations. Reducing tariffs, expanding markets and improving the trade balance not only increase the competitiveness of Vietnamese businesses but also help strengthen Vietnam's position in the global supply chain.
This "new signal" is expected to create a foundation for a period of stable and sustainable trade development and bring harmonious benefits to both economies.
