Deputy Minister Nguyen Sinh Nhat Tan told reporters in Hanoi on October 8 that since Washington announced plans to impose reciprocal duties in late July, both sides have held continuous technical-level discussions.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan (centre) at a pres briefing in Hanoi on October 8
“Over the past week, both sides have been negotiating regularly,” Tan said. “The US has assessed the talks quite positively, making the outcome very promising.”
A Vietnamese delegation is set to visit Washington this month to conclude the deal, though Tan noted the current US government shutdown could affect the timeline. “If the US faces internal obstacles, we will stay patient and keep momentum,” he added.
On July 31, President Donald Trump signed an Executive Order lowering reciprocal tariffs on Vietnam from 46 per cent, announced in April, to 20 per cent. The two nations have since held multiple negotiation rounds covering tariffs, rules of origin, agriculture, digital trade, services, and supply chains.
Vietnam has also ramped up imports from the US to improve trade balance. In the first nine months of 2025, imports rose 23.6 per cent to USD 13.7 billion, while exports reached USD 112.8 billion, up 27.7 per cent.
The US remains Vietnam’s largest export market, followed by China, the European Union, ASEAN, and Japan. The country posted a trade surplus of USD 16.8 billion in the period, helping stabilise foreign currency reserves.
Total trade turnover in the nine months reached USD 680.6 billion, up 17.3 per cent year-on-year. Authorities expect full-year trade to approach USD 900 billion if global conditions remain stable.
Vietnam also plans to open free trade talks with Mercosur and the Gulf Cooperation Council in the fourth quarter of 2025, and to complete negotiations on the Vietnam–EFTA FTA within the year.
