Hanoi, July 3, 2025 – The Europe Today: General Secretary of the Communist Party of Vietnam, Tô Lâm, held a high-level telephone conversation with United States President Donald Trump on Wednesday, focusing on strengthening bilateral relations and concluding negotiations on a reciprocal tariff framework.
During the discussion, both leaders expressed satisfaction with the robust and positive development of Vietnam–US relations in recent years. They welcomed the successful conclusion of talks between their respective negotiating teams on a Joint Vietnam–United States Statement on a Fair, Balanced, and Reciprocal Trade Agreement Framework.
President Trump commended Vietnam’s commitment to expanding market access for US exports, especially large-engine vehicles such as SUVs, which he highlighted as a key American export. He affirmed that the United States would significantly reduce reciprocal tariffs on Vietnamese goods and committed to addressing lingering trade barriers, particularly in sectors of mutual priority.
In return, General Secretary Tô Lâm urged the US to promptly recognize Việt Nam as a market economy and to remove export restrictions on certain high-tech products. He also proposed deepening cooperation across key sectors, including economy, trade, investment, science, and high technology, in alignment with the countries’ shared Comprehensive Strategic Partnership.
Both leaders agreed on the importance of increasing high-level exchanges and strengthening institutional cooperation to advance strategic ties. General Secretary Lâm extended an invitation for President Trump and the First Lady to visit Việt Nam, expressing hope for a meeting in the near future. President Trump thanked the General Secretary warmly for the invitation and expressed eagerness for a future visit.
On his social media platform Truth Social, President Trump praised the deal as a “Great Deal of Cooperation,” noting that Việt Nam would now apply a 20% tariff on all goods exported to the US and a 40% tariff on transshipped items—a reduction from the original 46% under the initial plan announced on April 2, 2025, a date he called “Liberation Day.” He added that in exchange, Việt Nam would eliminate tariffs on all American goods, granting the US “TOTAL ACCESS” to Vietnamese markets.
Highlighting the benefits for US manufacturers, President Trump noted that American SUVs and other large-engine vehicles would now be sold in Vietnam tariff-free, calling it a “wonderful addition” to the Vietnamese automotive market.
This significant breakthrough follows three intensive rounds of negotiations between the two nations during a bilateral grace period, initiated shortly after President Trump unveiled a sweeping tariff policy in early April targeting most US trading partners.
The agreement is seen as a major step toward enhancing long-term economic ties and strengthening the Comprehensive Strategic Partnership between Vietnam and the United States.
