Vietnam, US announce joint statement on framework for fair, balanced trade agreement
(VOVWORLD) - Vietnam and the US have agreed to a framework for an agreement on reciprocal, fair, and balanced trade to strengthen bilateral economic relationship, which will provide both countries’ exporters unprecedented access to each other’s markets.
The agreement will build upon the two countries’ longstanding economic relationship, including the Bilateral Trade Agreement signed in 2000 that entered into force in 2001.
Under the agreement on reciprocal, fair, and balanced trade, Vietnam will provide preferential market access for substantially all US industrial and agricultural exports to Vietnam.
The US will maintain at 20% the reciprocal tariffs, as set forth in Executive Order 14257 of April 2, 2025, as amended, on originating goods of Vietnam, and will also identify products from the list set out in Annex III to Executive Order 14346 of September 5, 2025, Potential Tariff Adjustments for Aligned Partners, to receive a 0% reciprocal tariff rate.
The US and Vietnam will work constructively in an effort to address both countries’ interests in non-tariff barriers that affect bilateral trade in priority areas.