The United States and Vietnam have reached a framework for an Agreement on Reciprocal, Fair, and Balanced Trade. This new agreement aims to strengthen economic ties between the two countries by increasing market access for exporters from both sides.
According to the joint statement, "The United States of America (the United States) and the Socialist Republic of Viet Nam (Viet Nam) have agreed to a Framework for an Agreement on Reciprocal, Fair, and Balanced Trade to strengthen our bilateral economic relationship, which will provide both countries’ exporters unprecedented access to each other’s markets." The agreement is set to build upon previous economic arrangements such as the U.S.-Vietnam Bilateral Trade Agreement that was signed in 2000 and implemented in 2001.
Under the new framework, Vietnam has agreed to give preferential market access for almost all U.S. industrial and agricultural exports. The United States will maintain a 20 percent reciprocal tariff on Vietnamese goods as established by Executive Order 14257 from April 2025. Additionally, certain products identified in Annex III of Executive Order 14346 from September 2025 will be eligible for a zero percent tariff rate.
Both governments have pledged to work together on addressing non-tariff barriers affecting trade. According to the statement: "Viet Nam has agreed to address many such barriers including, for example, by accepting vehicles built to U.S. motor vehicle safety and emissions standards; addressing import licenses for U.S. medical devices; streamlining regulatory requirements and approvals for U.S. pharmaceutical products; fully implementing Viet Nam’s obligations under certain international intellectual property treaties to which it is a Party; and addressing U.S. concerns with conformity assessment procedures."
Further commitments include efforts to resolve issues related to agricultural products entering Vietnam's market—particularly around regulatory oversight—and finalizing agreements in areas like digital trade, services, investment, intellectual property protection, labor rights, environmental measures, customs practices, good regulatory practices, and state-owned enterprise behaviors.
Both countries also stated their intention to enhance cooperation on supply chain resilience through actions such as addressing duty evasion and collaborating on export controls.
Recent commercial activities were highlighted as part of this broader cooperation: Vietnam Airlines has made an agreement with Boeing for the purchase of 50 aircraft valued at over $8 billion. In addition, Vietnamese companies signed twenty memorandums of understanding with American firms concerning agricultural commodities purchases totaling more than $2.9 billion.
The two nations plan to finalize details of the trade agreement in the coming weeks before preparing it for signature and completing necessary domestic procedures ahead of its entry into force.