Vietnam to Finalise Trade Deal with US Soon, Says Deputy PM

Vietnam expects to sign a reciprocal trade agreement with the United States soon, Deputy Prime Minister Bui Thanh Son said at a business summit in Hanoi, as a new round of negotiations begins in Washington.

“Only trust can lead to cooperation, and only cooperation can lead to prosperity,” Son said. “Vietnam always seeks to strengthen cooperation with the United States.”

The talks, led by Minister of Industry and Trade Nguyen Hong Dien, will take place in Washington from November 12 to 14.

The agreement, first discussed in October, aims to keep U.S. tariffs on Vietnamese imports at around 20%, while exempting certain products that have yet to be specified. The arrangement seeks to protect U.S. industries while preserving market access for Vietnamese goods.

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Vietnam hopes the deal will expand trade ties, attract more investment, and help the country gain U.S. recognition as a market economy — a move that could ease restrictions on high-tech exports to Vietnam.

For Washington, the pact supports its strategy to diversify supply chains and reduce dependence on China. For Hanoi, it offers greater access to the U.S. market and signals its commitment to deeper integration into global trade.

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If concluded, the agreement would mark a significant step forward in U.S.–Vietnam economic relations, strengthening cooperation between the two countries in a strategically important region.