VN to send delegation to US for tariff negotiations

VN to send delegation to US for tariff negotiations

Negotiations are being conducted based on the principles of openness, constructiveness, equality, respect for each other's independence, self-reliance and political regimes, and shared benefits, with each other’s development levels taken into account.

Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân at a ministry's press conference in Hà Nội on October 8, 2025. — VNA/VNS Photo

Vietnamese delegations are scheduled to visit the US in October and November 2025 to further discussions and move towards finalising a reciprocal trade agreement, Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân said at a recent press conference on Wednesday.

He said Việt Nam has been making concerted efforts to advance the negotiation process.

Negotiations are being conducted based on the principles of openness, constructiveness, equality, respect for each other's independence, self-reliance and political regimes, and shared benefits, with each other’s development levels taken into account. The two sides aim to develop stable and harmonious economic, trade, and investment ties in line with the Comprehensive Strategic Partnership between Việt Nam and the US.

Bùi Huy Sơn, general director of the Department of Planning, Finance and Enterprise Management at the Ministry of Industry and Trade (MoIT), said that for the final months of the year, the industry and trade sector is determined to meet the set targets and achieve new progress. The ministry will push ahead with implementing Resolution 59-NQ/TW, issued by the Politburo on January 24, 2025, regarding international integration in the new context.

In parallel, the MoIT is closely monitoring developments in the US tariff policy and working proactively with relevant authorities from both sides to clarify and resolve issues emerging, and to minimise the risk of adverse trade measures applied to Vietnamese exports.

It is prioritising the launch of free trade agreement (FTA) negotiations with the Southern Common Market (Mercosur) and the Gulf Cooperation Council (GCC) in the fourth quarter of 2025. Talks with Pakistan will be launched soon to expand export opportunities while FTA negotiations with the European Free Trade Association (EFTA) be concluded by the end of this year, Sơn said.

He added that the MoIT is working to address limitations among domestic enterprises to reduce reliance on the FDI sector. It will also continue working closely with businesses through regular consultations with industry associations and local authorities, thus enabling timely policy advice to the Government to give appropriate support.

Additionally, efforts will intensify around trade promotion, supply-demand connection, and product marketing to help Vietnamese firms reach new customers while maintaining strong ties with traditional partners, particularly in the US market.

The MoIT also reaffirmed its commitment to enforcing origin-related regulations through inspections, licensing, and violation settlement and, at the same time, strengthening supervision to combat trade remedy circumvention and origin fraud. 

Export turnover predicted to hit $900 billion

Việt Nam’s total import-export turnover in 2025 is expected to reach a new milestone of around US$900 billion, the regular press conference also heard.

The foreign trade remained a bright spot of the economy in the first nine months of 2025, with total turnover reaching $680.6 billion, up 17.3 per cent year-on-year.

General Director Sơn reported that the exports in the third quarter rose by 18.4 per cent year-on-year and 9.6 per cent from the second quarter of the year, reaching $128.57 billion.

The export turnover totaled $348.74 billion in the first nine months, up 16 per cent over the same period last year, far exceeding the 12 per cent growth target set for the whole year.

In the January – September period, 32 export items each earned over $1 billion, accounting for 93.1 per cent of total export turnover. Notably, the value of seven items surpassed $10 billion, making up 67.9 per cent. The US, China, the EU, ASEAN, and Japan remained major importers of Vietnamese goods.

The processed industrial sector made the biggest contribution to Việt Nam’s export growth in the period, with export earnings reaching $297.2 billion, up 16.7 per cent year-on-year and accounting for 85.2 per cent of total exports.

In addition, agricultural export value was estimated at $33.2 billion, up 15.2 per cent and accounting for 9.5 per cent of the country’s total export value.

Meanwhile, the country spent nearly $332 billion on imports in the first three quarters, up 18.8 per cent year-on-year. The domestic sector accounted for $105.67 billion (up 4.6 per cent), while the foreign-invested sector contributed $226.25 billion (up 26.8 per cent).

China remained the largest supplier with $134.4 billion, up 27.9 per cent. It was followed by the Republic of Korea with $44.4 billion, up 7 per cent; ASEAN ($39.1 billion, up 14.5 per cent), Japan ($18.2 billion, up 13.2 per cent), and the US ($13.7 billion, up 23.6 per cent).

According to the MoIT, Việt Nam enjoyed a goods trade surplus of $16.8 billion in the first nine months, making an important contribution to macroeconomic stability and foreign exchange reserves. 

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