As Vietnam and the US mark the 30th anniversary of diplomatic relations (July 12, 1995 - 2025), both countries have celebrated significant achievements, particularly in economic and trade cooperation. The September 2023 upgrade of bilateral ties to a Comprehensive Strategic Partnership has opened a historic new chapter, laying the groundwork for bilateral trade to soon reach the US$200 billion mark.

Since the signing of the Vietnam - US Bilateral Trade Agreement (BTA) in 2000, bilateral trade relations have truly become a standout success story. The two-way trade volume between the two countries surpassed the US$100 billion mark in 2021, reaching US$111.55 billion, a 247-fold increase compared to just US$451 million in 1995. In 2022, trade rose to US$123.91 billion, a nearly 275-fold increase. In 2024, bilateral trade climbed to nearly US$150 billion, marking a 20.4% increase over 2023. The US has become Vietnam’s second-largest trading partner and its largest export market.

The trade structure between the two countries has also flourished positively. Vietnam’s exports to the US have expanded from primarily light industrial products like textiles and footwear to include processed and manufactured goods, as well as high-value agricultural, forestry, and fishery products. In return, Vietnam imports high-tech, high-value goods and production inputs from the US, such as electronics, machinery, cotton, soybeans, chemicals, and animal feed.

Experts note that the complementary nature of the two economies has allowed both sides to benefit from a balanced and mutually supportive trade relationship. Importing high-quality raw materials from the US helps Vietnam build a cleaner, more transparent supply chain with traceable origins.

During a recent working trip to the US, Minister of Industry and Trade Nguyen Hong Dien witnessed the signing of multiple cooperation agreements and procurement contracts between Vietnamese and American businesses. He emphasised that economic–trade–investment cooperation remains the key pillar and primary driver of the overall bilateral relationship.

The US is currently a strategic export-import market for many Vietnamese businesses, while Vietnam is attracting high-tech investment from US firms, particularly in critical sectors such as semiconductors and microchips. At the same time, Vietnam is playing an increasingly vital role in the global supply chains of US firms, while American businesses contribute significantly to Vietnam's economic transformation.

In early June 2025, L&V Food Supply and CT Choice, based in Houston, Texas, directly imported the first batch of fresh lychee from Bac Giang province by air. The fruit has since been widely distributed not only in Vietnamese and American communities in Texas but also at hundreds of retail outlets across dozens of US states.

With over 20 years of experience in import-export and a strong passion for bringing Vietnamese products to the US, these firms have been promoting Vietnamese fruits and foods on a large scale, including fresh lychee and Dien pomelo. These products now hit the shelves in major supermarkets and Asian markets in Houston, Dallas, and other parts of the US.

The Vietnam Trade Office in Houston continues to actively support export-oriented Vietnamese businesses, connect partners, and organise trade and investment promotion activities. This includes hosting US business delegations in Vietnam and helping them explore market opportunities. The office also assists in promoting Vietnamese specialties and has supported Truong Hai Group Joint Stock Company (THACO) in advertising its products in the US and establishing partnerships for production and export. A delegation of US firms recently visited THACO’s Chu Lai industrial complex in Da Nang city.

According to US Ambassador to Vietnam Marc E. Knapper, 2025 is a pivotal year to deepen bilateral cooperation and realise the full potential of the Comprehensive Strategic Partnership, with economic and trade ties serving as the core driving force.

Meanwhile, Minister Nguyen Hong Dien stressed that the complementary nature of the Vietnamese and US economies is a fundamental strength that ensures robust, harmonious, and sustainable cooperation.

“Vietnam considers the United States a top strategic partner and is committed to promoting comprehensive and long-term cooperation in trade, investment, and economic development, thereby fostering greater mutual understanding and strategic trust between the two countries,” the Minister affirmed.

Successful reciprocal tariff negotiations affirm US respect for Vietnam

VOV.VN - Frequent, high-level exchanges between the two countries’ leaders to negotiate reciprocal tariffs demonstrate that Vietnam-US relations are at their best and demonstrate the United States’ respect for Vietnam.