The Ministry of Industry and Trade announced today that the United States has officially adjusted its reciprocal tariffs for imports from 69 countries and territories. Accordingly, Vietnam's rate has been set at 20 percent, a significant reduction from the initial 46 percent.
According to the Ministry of Industry and Trade, the tariff breakthrough results from a series of sustained negotiations between Vietnam and the United States that began in late April 2025.
Talks occurred at both technical and ministerial levels, with numerous in-person and virtual meetings held between Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Chief of the Office of the United States Trade Representative (USTR) Jamieson Greer along with US Secretary of Commerce Howard Lutnick.
The negotiations made notable progress across key areas, including tariffs, rules of origin, customs procedures, agriculture, non-tariff barriers, digital trade, services and investment, intellectual property, sustainable development, supply chain resilience, and broader trade cooperation.
The Ministry of Industry and Trade noted that both nations will continue discussions to finalize a reciprocal trade agreement. Talks will be guided by principles of openness, equality, respect for sovereignty and political systems, mutual benefit, and alignment with each country's development stage. The two sides also aim to deepen economic, trade, and investment ties in line with the Vietnam-US Comprehensive Strategic Partnership.
According to data from US Customs, bilateral trade between Vietnam and the United States reached US$149.7 billion in 2024. Of that, Vietnam exported US$136.6 billion and imported US$13.1 billion.
In just the first five months of 2025, two-way trade hit US$77.4 billion - an increase of 36.5 percent compared to the same period last year. Vietnam’s exports surged to US$71.7 billion, up 37.3 percent while imports from the US totaled US$5.7 billion, marking a rise of 30.7 percent.
