The trade official told media workers at a press briefing in Hanoi on Octobetr 8 that since the Trump administration announced the imposition of reciprocal duties on Vietnam at the end of July, technical-level negotiations have been ongoing.

“Over the past week, both sides have been negotiating regularly and continuously,” he said. “So far, the US side has assessed the talks quite positively, making the outcome very promising.”

According to the Deputy Minister, a Vietnamese delegation is scheduled to visit the US in October, with the aim of finalising the deal before November. “That’s the goal,” he emphasised.

He noted, however, that the current US government shutdown could potentially affect the pace of negotiations.

“If the US faces internal obstacles, we will remain patient, keep in contact, and maintain momentum. As of now, the outcome looks quite positive,” stated Tan.

Earlier, during a meeting with Vietnam’s Acting Foreign Minister Le Hoai Trung in New York on September 24, US Secretary of State Marco Rubio said that President Donald Trump hopes both sides can swiftly conclude the talks to implement the tax agreement, bringing mutual benefits.

On July 31, Trump issued an Executive Order to adjust reciprocal tariffs, reducing the rate imposed on Vietnam from 46% announced on April 2 to 20%.

Since late April 2025, Vietnam and the US have held multiple negotiation rounds at both technical and ministerial levels, covering key areas including tariffs, rules of origin, customs, agriculture, non-tariff measures, digital trade, services and investment, intellectual property, sustainable development, supply chains, and commercial cooperation.

Also at the press conference, the Ministry of Industry and Trade revealed that Vietnam is increasing imports from the US to promote trade balance.

In the first nine months of 2025, imports from the US rose by 23.6% year on year to US$13.7 billion.

The US remains Vietnam’s largest export market, with exports reaching US$112.8 billion, up 27.7%. Other major export markets include China (USD 49.6 billion - up 11.3%), the European Union (US$41.7 billion - up 9.3%); ASEAN (US$28.5 billion - up 2.9%); and Japan (US$19.7 billion - up 9%).

Vietnam continues to enjoy a trade surplus, which stood at US$16.8 billion over the first nine months of the year. This contributes significantly to macroeconomic stability and foreign currency reserves.

Total import-export turnover for the nine-month period hit US$680.6 billion, up 17.3% year on year. If there are no major disruptions, full-year turnover is expected to reach a new milestone of around US$900 billion.

To meet its 2025 target, the Ministry of Industry and Trade will continue closely monitoring US tariff policy developments and work with relevant agencies from both countries to resolve emerging issues, minimising the risk of unfavourable trade measures against Vietnamese goods.

In addition, Vietnam aims to launch negotiations for two new free trade agreements (FTAs) with Mercosur and the Gulf Cooperation Council (GCC) in Q4/2025, push for talks with Pakistan, and conclude negotiations on the Vietnam-EFTA FTA within the year.

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