Deputy Minister Nguyen Sinh Nhat Tan (center) addresses the press conference – Photo: Cong Thuong Newspaper
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Deputy Minister Nguyen Sinh Nhat Tan stated that Vietnam has been actively negotiating reciprocal tariffs with the United States. Delegations from both countries have held frequent and continuous discussions. To date, the U.S. has provided positive feedback on the progress of these trade negotiations, marking a highly encouraging outcome.
Additionally, the Deputy Minister of Industry and Trade announced that in October and November 2025, Vietnam’s negotiation team will travel to the U.S. to further discussions and implement subsequent tasks. The goal is to finalize a reciprocal trade agreement based on principles of openness, constructiveness, equality, respect for independence, sovereignty, and mutual political and economic interests. Both sides aim to foster stable and balanced economic, trade, and investment relations, commensurate with the Comprehensive Strategic Partnership between Vietnam and the United States.
Earlier, on August 1, 2025 (Vietnam time), the White House issued an executive order from President Donald Trump adjusting reciprocal tariffs. The order reduced tariffs for 69 countries and territories listed in Appendix I, including Vietnam, whose tariff rate decreased from 46% to 20%.
Trade Remains a Bright Spot
Regarding Vietnam’s trade performance in the first nine months of 2025, Mr. Bui Huy Son, Director of the Planning, Finance, and Enterprise Management Department at the Ministry of Industry and Trade, highlighted that trade continues to be a standout sector. Total trade turnover for the period reached USD 680.6 billion, a 17.3% increase compared to the same period last year.
In Q3 2025, exports totaled USD 128.57 billion, up 18.4% year-on-year and 9.6% quarter-on-quarter. For the nine-month period, merchandise exports reached USD 348.74 billion, a 16.0% increase year-on-year, surpassing the annual growth target of 12%.
During this period, 32 products achieved export values exceeding USD 1 billion, accounting for 93.1% of total exports. Seven of these products surpassed USD 10 billion, contributing 67.9% to the total.
In terms of export markets, the United States remained Vietnam’s largest market with USD 112.8 billion, up 27.7%. This was followed by China (USD 49.6 billion, +11.3%), the EU (USD 41.7 billion, +9.3%), ASEAN (USD 28.5 billion, +2.9%), and Japan (USD 19.7 billion, +9.0%).
On the import side, Q3 2025 saw imports reach USD 119.66 billion, a 20.2% year-on-year increase and a 6.3% rise from Q2 2025. For the nine-month period, total imports neared USD 332 billion, up 18.8%. Domestic enterprises imported USD 105.67 billion (+4.6%), while foreign-invested enterprises imported USD 226.25 billion (+26.8%).
The higher import growth rate (18.8%) compared to exports (16.0%) signals a positive recovery in domestic production but also exerts pressure on the trade balance.
Vietnam maintained a trade surplus of USD 16.8 billion, significantly contributing to macroeconomic stability and foreign exchange reserves. Domestic enterprises recorded a trade deficit of USD 20.26 billion, while foreign-invested enterprises (including crude oil) achieved a surplus of USD 37.08 billion. Total trade turnover for the year is projected to reach a new high of approximately USD 900 billion.
– 19:30 08/10/2025
