Vietnam seeks to finalise a US trade deal by 9 July 2025 to avoid tariffs while balancing relations with the US and China.
Vietnamese Prime Minister Pham Minh Chinh said on 26 June 2025 that Vietnam is close to finalising a trade deal with the US ahead of the 9 July deadline to avoid 46% tariffs on its exports.
The deal may include reduced tariffs of 20–25% and increased Boeing purchases. Vietnam’s Communist Party chief is expected to visit the US soon to complete the agreement.
The agreement will follow the US’s recent trade deal with the UK. This comes as the 90-day US tariff suspension nears expiry. The US has accused Vietnam of allowing Chinese goods to bypass tariffs, a key issue in talks.
Pham also affirmed Vietnam’s goal to maintain balanced relations with both the US and China while diversifying its markets and supply chains amid ongoing trade tensions.
Earlier, the US and Vietnam concluded their second round of tariff negotiations in Washington from 19 May to 22 May.
