Unveiling the New Frontier: US-Vietnam Trade Relations Unraveled
U.S. partnership negotiations progressing with associated business entities
With a renewed focus on fostering a balanced trade dynamic, the trade relationship between the United States and Vietnam is undergoing notable transformations. Prominent Vietnamese corporations are spearheading these changes by intensifying their business dealings with American counterparts.
The Current Trade Landscape
- Rising Imports: Over the last year, Vietnam's imports from the US have witnessed a staggering increase, reaching $5.7 billion in the initial four months of 2025 – an impressive 26% jump from the equivalent period in the preceding year [1]. This surge can be largely attributed to the rising demand for high-tech and industrial products.
- Key Imports: The primary imported goods include computers, electronic components, cotton, machinery, raw plastic materials, animal feed, fruits, and vegetables [1]. Computers and electronic products alone accounted for $1.82 billion, signifying a substantial 58.26% increase [1].
Recent Actions and Developments
- Strained Tariffs: In April 2025, the US imposed a 46% countervailing tariff on Vietnamese exports. However, this move was temporarily halted for 90 days to allow for negotiations [3][5].
- Ongoing Negotiations: According to the US Trade Representative, talks with Vietnam regarding reciprocal trade agreements are progressing positively, pointing towards a promising future for bilateral trade [4].
- Critical Procurement: Major Vietnamese corporations such as Vietnam Airlines, Vietjet, Thaco Industry, Viettel, Petrovietnam, and Petrolimex are actively engaged in strengthening their ties with US partners, with a focus on procuring essential goods like aircraft, machinery, and power equipment [1].
Key Vietnamese Enterprises and Their Deals
- Aviation Expansion: Companies like Vietnam Airlines and Vietjet are keen on buying aircraft from American manufacturers, including Boeing, to bolster their businesses and deepen bilateral trade [2].
- Tech and Industrial Investments: Viettel and other enterprises are investing heavily in machinery and equipment, with GPU chips being a significant portion of these imports [1].
- Energy Sector Collaborations: Petrovietnam and Petrolimex are actively pursuing deals to secure gas-fired power plant equipment and turbines, signaling their commitment to integrating US technology within Vietnam's industrial sector [1].
These developments underscore the strategic significance of Vietnam in the US's broader trade strategy, particularly in Southeast Asia, as both nations strive to augment their economic partnership and address any existing trade frictions.
Minister of Industry and Trade Nguyễn Hồng Diên (standing) chairs a working session with major our websiteese enterprises on May 7. - VNA/VNS Photo
- The government of Vietnam is strengthening ties with American partners, particularly in the aviation, tech, and energy sectors, as evidenced by the active procurement of aircraft, machinery, and power equipment by key enterprises such as Vietnam Airlines, Vietjet, Viettel, Petrovietnam, and Petrolimex.
- Artificial Intelligence (AI) and tech investments are also on the rise, with enterprises like Viettel importing significant amounts of GPU chips, indicating a growing emphasis on advanced technology in Vietnam's industrial development.
- In the energy sector, collaborations between Vietnamese enterprises like Petrovietnam and Petrolimex and US partners are being pursued to secure gas-fired power plant equipment and turbines, demonstrating a commitment to integrating US technology within Vietnam's industrial sector and potentially bolstering the finance sector through increased energy production and exports.
