The United States is actively addressing the 'unsustainable' trade deficit with Vietnam, raising concerns during recent tariff negotiations. A senior U.S. Treasury official emphasized the critical need for Vietnam to combat illegal transshipment and trade fraud to ensure fair trade practices.
Vietnam is proactively seeking solutions to balance trade relations with the U.S.. This includes considering increased imports of American high-tech products and a reduction in tariffs on specific goods destined for the U.S.. Efforts are also underway to crack down on Chinese goods being rerouted through Vietnam.
Negotiations between the two countries are ongoing, with Vietnam aiming to demonstrate its commitment to fair trade. Vietnam's imports from the U.S. have surged to $5.7 billion in the first four months of 2025, a 26% increase driven by high-tech and industrial products. Major corporations are increasing meetings with U.S. partners to boost imports, including aircraft, machinery, and equipment.
Minister of Industry and Trade Nguyen Hong Dien highlighted the complementary nature of the two economies, noting Vietnam's demand for U.S. goods and services. A Vietnamese delegation engaged with U.S. officials in May 2025 to discuss semiconductors, high technology, and banking. The U.S. seeks to deepen economic and financial ties, addressing the trade imbalance and promoting customs control measures.