Joint Statement of Vietnam and the United States on Reciprocal Trade

(Dan Tri) - Vietnam and the US have agreed to issue a joint statement on the framework of a reciprocal, fair and balanced trade agreement.

According to information from the Ministry of Industry and Trade , on October 26, Vietnam and the United States agreed to release a Joint Statement on the Framework for a Reciprocal, Fair and Balanced Trade Agreement on the occasion of President Donald Trump and Prime Minister Pham Minh Chinh attending the ASEAN Summit in Kuala Lumpur, Malaysia.

The joint statement addresses the key aspects of the reciprocal, fair, and balanced trade agreement. Both Vietnam and the United States will cooperate constructively to address each other's concerns.

For example, addressing non-tariff barriers, agreeing on commitments related to digital trade, services, and investment; discussing intellectual property, sustainable development, and strengthening cooperation to enhance supply chain resilience…

In the coming period, the Ministry of Industry and Trade stated that both sides will continue to discuss and implement further work towards completing a reciprocal, fair, and balanced trade agreement based on the principles of openness, constructive cooperation, equality, respect for independence, autonomy, political institutions, mutual benefit, and consideration of each other's level of development.

Since April, Vietnam and the US have held numerous reciprocal trade talks at both the technical and ministerial levels (Photo: Moit).

The Ministry of Industry and Trade stated that the Joint Statement between Vietnam and the United States on the Framework for a Reciprocal, Fair, and Balanced Trade Agreement is a document that Vietnam and the United States have agreed upon to reflect the results of reciprocal trade negotiations between the two countries to date.

At the same time, this is to acknowledge the efforts of Vietnamese and American government agencies and businesses in building economic and trade relations on a balanced, stable, and sustainable basis, in line with the comprehensive strategic partnership between Vietnam and the United States.

Prior to this, starting in late April, Vietnam and the United States held numerous reciprocal trade negotiations at both the technical and ministerial levels. Many in-person and online talks took place between the Minister of Industry and Trade, Nguyen Hong Dien, and the Head of the U.S. Trade Representative (USTR), Jamieson Greer, and the U.S. Secretary of Commerce, Howard Lutnick.

Early morning on August 1st (Vietnam time), the White House posted President Donald Trump's Executive Order on adjusting reciprocal tariffs, according to which the US adjusted reciprocal tariffs for 69 countries and territories listed in Appendix I. Under this Appendix, the reciprocal tariff rate for Vietnam decreased from 46% to 20%.

According to data from Vietnam Customs as of the end of September, total bilateral trade reached approximately US$126.4 billion, an increase of 27.3% compared to the same period in 2024. Of this, Vietnam exported US$112.8 billion to the US and imported US$13.66 billion from the US.

Source: https://dantri.com.vn/kinh-doanh/tuyen-bo-chung-cua-viet-nam-va-my-ve-thuong-mai-doi-ung-20251026172306354.htm