Joint Statement on the Framework of the Vietnam - United States Reciprocal Trade Agreement

Vietnam and the United States have agreed to continue discussing and implementing work to complete a reciprocal, fair and balanced trade agreement on the principles of openness, constructiveness and equality.

The 3rd round of negotiations on the Bilateral Agreement on Reciprocal Trade between Vietnam and the United States was held in June 2025 in Washington DC, USA.

On October 26, Vietnam and the United States agreed to issue a Vietnam-US Joint Statement on the Framework of a Reciprocal, Fair and Balanced Trade Agreement on the occasion of President Donald Trump and Prime Minister Pham Minh Chinh attending the ASEAN Summit held from October 26-28 in Kuala Lumpur, Malaysia.

The Joint Statement is a document that Vietnam and the United States agreed to issue to demonstrate the results of reciprocal trade negotiations between the two countries so far as well as to acknowledge the efforts of Vietnamese and US government agencies and businesses in building economic and trade relations on a balanced, stable and sustainable basis, in line with the Vietnam-US Comprehensive Strategic Partnership.

The Joint Statement addresses the main contents of the reciprocal, fair and balanced trade agreement, under which both Vietnam and the United States will cooperate constructively to address concerns of both sides related to non-tariff barriers, agree on commitments related to digital trade, services and investment; discuss intellectual property, sustainable development as well as strengthen cooperation to improve the resilience of supply chains...

In the coming weeks, the United States and Vietnam will continue to discuss and finalize the content of the reciprocal, fair, and balanced Trade Agreement, prepare for the signing of the Agreement, and carry out the necessary internal procedures for the Agreement to officially come into effect.

• The Reciprocal, Fair and Balanced Trade Agreement will inherit and develop on the foundation of the long-standing economic relationship between the two countries, including the US-Vietnam Bilateral Trade Agreement signed in 2000 and effective since 2001. The main provisions of the Reciprocal, Fair and Balanced Trade Agreement between the United States and Vietnam will include:- Vietnam will provide preferential market access for nearly all US agricultural and industrial exports.- The United States will maintain the 20% reciprocal tariff as prescribed in Executive Order No. 14257 dated April 2, 2025, as amended, for goods originating from Vietnam; and will identify products in the list set out in Annex III of Executive Order No. 14356 dated September 5, 2025 - “Potential Tariff Adjustments for Likely Oriented Partners” - to enjoy 0% reciprocal tariffs.- The United States and Vietnam will cooperate constructively in efforts to address mutual concerns regarding non-tariff barriers affecting bilateral trade in priority sectors.- Vietnam has agreed to address the above-mentioned barriers such as accepting vehicles manufactured to US safety and emissions standards; resolving issues related to licensing of US medical devices; simplifying regulatory requirements and approval processes for US pharmaceuticals; fully implementing Vietnam's obligations under a number of international treaties on intellectual property to which Vietnam is a member; and address U.S. concerns related to conformity assessment procedures.- The United States and Vietnam have committed to address and prevent barriers to U.S. agricultural products in the Vietnamese market, including through U.S. regulatory oversight mechanisms and acceptance of mutually agreed-upon certifications issued by U.S. regulatory agencies.- The United States and Vietnam will agree on commitments related to digital trade, services, and investment.- The United States and Vietnam will discuss intellectual property, labor, environment, customs and trade facilitation, good governance, and trade-distorting practices (if any) by state-owned enterprises.- The United States and Vietnam commit to strengthening cooperation toward common goals of enhancing supply chain resilience, including addressing tax evasion and coordinating export controls.- In addition, the United States and Vietnam note recent trade agreements between U.S. businesses and Vietnam in the fields of agriculture, aerospace and energy.
  • Vietnam Airlines has signed a contract with Boeing to buy 50 aircraft worth over $8 billion. Vietnamese businesses have signed twenty memorandums of understanding with US businesses to purchase US agricultural products, with an estimated total value of over $2.9 billion.

According to VNA

Source: https://baohaiphong.vn/tuyen-bo-chung-ve-khuyen-kho-hiep-dinh-thuong-mai-doi-ung-viet-nam-hoa-ky-524701.html