Kuala Lumpur, October 27, 2025 – The Europe Today: Việtnam and the United States on Sunday issued a joint statement outlining a framework for a new agreement on reciprocal, fair, and balanced trade, aimed at deepening economic cooperation and enhancing market access between the two nations.
The announcement was made on the occasion of US President Donald Trump and Prime Minister Phạm Minh Chính attending the 47th ASEAN Summit in Kuala Lumpur, Malaysia.
The forthcoming trade agreement builds upon the two countries’ long-standing economic partnership, notably the US–Việt Nam Bilateral Trade Agreement signed in 2000 and implemented in 2001.
According to the joint statement, Việt Nam will grant preferential market access to substantially all US industrial and agricultural exports, while the US will maintain a 20 percent reciprocal tariff on originating goods from Việt Nam, as stipulated under Executive Order 14257 of April 2, 2025, as amended. Additionally, Washington will identify select Vietnamese products listed in Annex III to Executive Order 14346 of September 5, 2025 (“Potential Tariff Adjustments for Aligned Partners”) that will receive a zero percent reciprocal tariff rate.
Both sides reaffirmed their commitment to working constructively to address non-tariff barriers impacting bilateral trade, particularly in priority sectors.
Việt Nam has agreed to a series of measures, including:
- Recognizing US motor vehicle safety and emissions standards,
- Easing import licensing for US medical devices,
- Streamlining pharmaceutical regulatory approvals,
- Fully implementing commitments under international intellectual property treaties, and
- Addressing US concerns regarding conformity assessment procedures.
The two nations also pledged to remove and prevent barriers to US agricultural exports, ensuring recognition of certificates issued by US regulatory authorities and alignment of regulatory oversight in agricultural trade.
As part of the strengthened economic partnership, Vietnam Airlines has agreed to purchase 50 aircraft from Boeing, valued at over US$8 billion. Additionally, Vietnamese companies have signed 20 memorandums of understanding (MoUs) with US firms to procure agricultural commodities worth an estimated US$2.9 billion.
In the coming weeks, both governments will work to finalize the agreement, complete the necessary domestic procedures, and prepare for its official signing and implementation.
The new trade framework is expected to further enhance bilateral economic relations, promote sustainable growth, and contribute to regional stability and prosperity in the Indo-Pacific region.
