At a regular press conference on October 8, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan provided updates on ongoing reciprocal tax negotiations with the United States.

According to Tan, Vietnam has been making continuous efforts to advance these negotiations. Delegations from both countries have held frequent exchanges to align on key issues and approaches.

The United States has responded positively, offering encouraging assessments of the negotiation results to date. Deputy Minister Tan described the progress as “very promising.”

nguyen sinh nhat tan
Deputy Minister Nguyen Sinh Nhat Tan shares updates on Vietnam-US reciprocal tax talks. Photo: Ministry of Industry and Trade

Vietnam’s negotiating team is expected to travel to the United States in October and November to continue discussions and move toward finalizing a reciprocal trade agreement. The goal is to reach a deal grounded in openness, mutual respect for each country’s political system and development level, and a spirit of equality and constructive cooperation.

Both sides are committed to deepening their economic, trade, and investment ties in a way that balances interests and reflects the upgraded Vietnam - US Comprehensive Strategic Partnership.

Previously, in the early hours of August 1 (Vietnam time), the White House published a presidential proclamation by Donald Trump adjusting reciprocal tariffs. The US reduced the tariff rate for Vietnamese exports from 46% to 20%, as outlined in Appendix I of the proclamation covering 69 countries and territories.

Bui Huy Son, Director of the Planning, Finance, and Business Management Department at the Ministry of Industry and Trade, reported that in the first nine months of 2025, Vietnam's exports to the US reached USD 112.8 billion—an increase of 27.7% over the same period last year.

Son emphasized that the United States remains Vietnam’s largest export market. The Ministry of Industry and Trade continues to closely monitor US tariff policies and actively coordinates with US agencies to address emerging issues and minimize the risk of new trade restrictions on Vietnamese goods.

The ministry is also pushing forward multiple trade initiatives, including launching negotiations for two new free trade agreements (FTAs): one with Mercosur and another with the Gulf Cooperation Council (GCC), both expected to begin in Q4 2025.

Additionally, Vietnam aims to start FTA negotiations with Pakistan and finalize talks with the European Free Trade Association (EFTA) within 2025.

Efforts will also be made to enhance trade promotion, boost supply-demand connectivity, and expand brand awareness to help Vietnamese businesses access new customers while strengthening relationships with long-standing partners, especially in the US market.

To ensure fair competition and compliance, the ministry will step up enforcement of rules of origin, inspections, licensing, and sanctions for violations. It will also reinforce state management to combat trade defense circumvention and fraudulent origin labeling.

Tam An