Walmart Imports and Distributes Approximately 30% of Vietnamese Goods
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Exports to the US Surge by 22%
Regarding the trade landscape between Vietnam and the US, Do Ngoc Hung, Commercial Counselor and Chief Trade Representative of Vietnam in the US, shared that in Q1/2025, Vietnam’s exports to the US reached 31.4 billion USD, surging by 22% year-on-year. Imports, on the other hand, amounted to 4.1 billion USD, marking a 21% increase. These figures showcase the complementary nature of the trade relationship between the two nations, devoid of direct competition.
Amidst the challenges faced by Vietnam-US trade concerning tariff issues, Mr. Do Ngoc Hung remains optimistic about the opportunities within these hurdles. He highlights the continued support and confidence expressed by leading US retailers such as Walmart, Target (with a 30% import share from Vietnam), Costco, and HomeDepot. These companies believe in Vietnam’s potential to reach an agreement with the US, including the removal of corresponding taxes.
“Prominent US businesses and distributors are considering participating in the International Sourcing Connection – Viet Nam International Sourcing & Ho Chi Minh City Export Forum 2025, organized by the Ministry of Industry and Trade in September 2025” – Mr. Do Ngoc Hung revealed, indicating positive signs in the tariff negotiation between the two countries.
Reducing Dependence on Intermediate Raw Materials
Moving forward, to foster trade cooperation and enhance collaboration between the two nations, Mr. Do Ngoc Hung recommends strengthening strategic cooperation with the US to ensure sustainable development in bilateral relations across industries, trade, investment, energy, and artificial intelligence. Vietnamese enterprises should diversify their export markets through Free Trade Agreements (FTAs), especially modern FTAs. Concurrently, stimulating domestic demand through measures to boost local consumption is essential.
The Trade Office advises Vietnamese businesses to enhance their domestic competitiveness and fortify exports by investing in the overall competitiveness of supporting and foundational industries. This includes technological upgrades, innovation, simplified business regulations, and improved infrastructure to reduce production costs and enhance product quality.
Businesses are also urged to bolster their resilience and diversify their supply chains, lessening dependence on raw materials and intermediate goods concentrated in a single market. Promoting exports with higher domestic intellectual value and added value will contribute to the economy’s resilience against external impacts.
On the topic of trade remedies, Mr. Do Ngoc Hung cautions that countries subjected to tariffs may intensify trade protection measures, heightening competitive pressure on the Vietnamese market. Therefore, comprehensive cooperation with the US during trade litigation processes is vital to safeguard business interests and avert legal risks.
– 21:10 28/04/2025
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