Vietnam-US trade talks enter decisive phase: US official

Talks on a balanced and fair reciprocal trade agreement between Vietnam and the United States have made significant progress and are entering a decisive stage, said U.S. Trade Representative Jamieson Greer.

Greer made the remarks during a meeting with Vietnam’s Party chief To Lam on February 19 in Washington D.C., held on the sidelines of the opening session of the Gaza Board of Peace which is scheduled for February 18-20, Vietnam News Agency reported.

The Vietnamese top leader congratulated the United States for "many national development achievements under President Donald Trump’s second term" and said Vietnam hopes President Trump and U.S. businesses would attend the APEC Leaders’ Week in Vietnam in 2027.

To Lam noted that he highly values the achievements in bilateral cooperation across political, economic and trade, security and defence, and people-to-people exchanges, and expressed his hope that both sides would continue to deepen ties to deliver tangible benefits to the two countries and their peoples, while contributing to peace, stability, development and prosperity in the region and the world.

He said he welcomed "positive results" in the negotiations on the reciprocal trade agreement and praised the role of the United States Trade Representative (USTR) and Jamieson Greer’s personal engagement, saying Vietnamese agencies would continue to work closely with Washington to conclude the deal soon.

In response, Greer congratulated To Lam on his re-election at Vietnam’s recent National Party Congress. He said he respectfully conveys President Trump's congratulations to the Party General Secretary and expressed gratitude for the Vietnamese leader's attendance at the opening session of the Gaza Board of Peace, saying it underscores the importance both sides attach to bilateral ties.

Ambassador Jamieson Greer said he highly appreciates the positive results in bilateral relations, including in the economic and trade sectors, in recent times.

He stressed Vietnam is one of the United States’ important trading partners and that deeper economic and trade cooperation would help strengthen overall relations.

He added that the trade talks for a balanced and fair reciprocal trade agreement have made significant progress and are entering a decisive phase.

The Ambassador emphasized the importance of this agreement to economic and trade cooperation between the two countries, and highly appreciated the proactive and positive efforts of the Vietnamese negotiating team in recent times.

The Ambassador emphasized the importance of this agreement to bilateral economic and trade cooperation, and said he highly valued the proactive and positive efforts of the Vietnamese negotiating team in the past period.

Greer said the USTR and he himself would continue to coordinate closely with Vietnamese ministries and agencies to bring negotiations to an early conclusion, in line with guidance from Party General Secretary To Lam and President Trump.

Vietnam and the United States held the sixth round of negotiations in Washington D.C. in early February 2025.

Previously, the Southeast Asian country had proposed a list of goods eligible for zero tariffs when entering the U.S. market, said Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan, acknowledging that Washington’s demands remain “very high.”

“The partner’s demands are very high. Some requests go beyond reasonable levels and create difficulties for the talks, but we will continue to explain and persistently persuade them,” he told a press briefing.

Alongside negotiations, Vietnam is taking steps to facilitate greater imports of U.S. goods and encourage American companies to invest in the country, aiming to address the trade imbalance as the U.S. records a significant trade deficit with Vietnam.

“The trade gap does not stem from direct competition between the two sides, but rather from the international division of labor and production,” the deputy minister explained, noting that the U.S. specializes in high-value, high-technology products.

According to Ministry of Industry and Trade data, Vietnam’s exports to the U.S. in 2025 were estimated at $153.2 billion, up 28.2% year-on-year, accounting for 32.2% of the country’s total export turnover.

The five product categories with highest export values accounted for 67.5% of Vietnam’s total exports to the U.S. They included computers, electronic products and components (estimated at $42.1 billion); machinery, equipment, tools and spare parts ($24.1 billion); textiles and garments ($17.9 billion); mobile phones and components ($9.9 billion); and wood and wood products ($9.5 billion).

Vietnam imported $19.3 billion worth of goods from the U.S. last year, up 27.7% year-on-year. Of this, five out of 44 major imported product categories accounted for 51.5% of total import value from the U.S., including computers, electronic products and components ($5.5 billion); cotton of all kinds ($1.4 billion); machinery, equipment, tools and spare parts ($1.3 billion); plastic raw materials (nearly $1.2 billion); and wood and wood products ($0.6 billion).

Vietnam and the U.S. on October 26, 2025 issued a joint statement on the Framework for a Balanced and Fair Reciprocal Trade Agreement after many months of negotiations. Accordingly, Vietnam will expand market preferences for most U.S. industrial and agricultural goods.

Meanwhile, the U.S. will maintain a 20% reciprocal tax rate for goods originating from Vietnam and consider applying a 0% tax rate to some products. The U.S. will identify products in the list set out in Annex III of Executive Order No. 14356 dated September 5, 2025 – “Potential Tariff Adjustments for Likely-Oriented Partners” – to enjoy a 0% reciprocal tariff rate.

Earlier, on August 1, 2025 (Vietnam time), the White House had announced a Presidential Executive Order signed by Donald Trump, adjusting reciprocal tariff rates for 69 countries and territories listed in Annex I. Under the revision, the U.S. reduced the reciprocal tariff rate on Vietnam from 46% to 20%.

On February 19, 2026, Party chief To Lam witnessed the signing and exchange of cooperation agreements between Vietnam and the United States worth a combined $37.2 billion, covering areas such as technology, digital transformation, aviation and healthcare.