Vietnam - US announce joint statement on the framework of the Reciprocal Trade Agreement

The two countries' joint statement on the framework of the Trade Agreement was issued on the occasion of President Donald Trump and Prime Minister Pham Minh Chinh attending the 47th ASEAN Summit in Kuala Lumpur, Malaysia.

Many goods in Vietnam are exported to the US. (Photo: Government). — Many goods in Vietnam are exported to the US. (Photo: Government ).

The Joint Statement is a document that Vietnam and the US 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 government agencies and businesses of the two countries 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 US 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 the supply chain...

In the coming weeks, the United States and Vietnam will continue to discuss to 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.

Accordingly, the reciprocal, fair and balanced Trade Agreement will inherit and develop on the foundation of the long-lasting economic relationship between the two countries, including the US-Vietnam Bilateral Trade Agreement signed in 2000 and effective since 2001.

Key provisions of the reciprocal, fair, and balanced U.S.-Vietnam Trade Agreement will include:

Vietnam will grant preferential market access to nearly all US agricultural and industrial exports.

Meanwhile, the US maintains a 20% reciprocal tax rate on goods originating from Vietnam, and is considering applying a 0% tax rate to some products.

The two sides pledged to work together to address non-tariff barriers affecting bilateral trade in related areas. For example, Vietnam will address a number of barriers such as accepting vehicles manufactured under US emission standards, medical equipment, simplifying procedures for approving pharmaceuticals and agricultural products; and fully implementing international obligations on intellectual property.

The two countries also pledged to address and prevent barriers to US agricultural products in the Vietnamese market. This includes a mechanism to monitor and accept certificates agreed upon by both sides and issued by US regulatory agencies.

The United States and Vietnam will agree on commitments related to digital trade, services, and investment.

The two countries also recorded many important trade agreements such as Vietnam Airlines ordering 50 Boeing aircraft worth more than 8 billion USD.

Vietnamese businesses have signed 20 memorandums of understanding with US businesses on purchasing US agricultural products, with a total estimated value of more than 2.9 billion USD.

On the morning of August 1, 2025 (Vietnam time), the White House posted President Donald Trump's Executive Order on adjusting the reciprocal tax rate, according to which the United States adjusted the reciprocal tax rate for 69 countries and territories listed in Appendix I. According to this Appendix, the reciprocal tax rate for Vietnam decreased from 46% to 20%.
According to Vietnam Customs data as of the end of September 2025, the total bilateral trade turnover reached about 126.4 billion USD (up 27.3% over the same period in 2024), of which Vietnam exported to the US 112.8 billion USD (up 27.7% over the same period in 2024; accounting for 32.3% of total exports); imported from the US 13.66 billion USD (up 23.6% over the same period in 2024, accounting for 4.1% of total imports).

Ngoc Vy

Source: https://vtcnews.vn/viet-nam-my-cong-bo-tuyen-bo-chung-ve-khuon-kho-hiep-dinh-thuong-mai-doi-ung-ar983347.html