Currently, the U.S. is a leading trade partner of Vietnam, while the Southeast Asian nation continues to attract high-tech investment from the U.S., particularly in sectors like microchips and semiconductors.
According to statistics, in 2024, their two-way trade reached approximately USD 132 billion. Of this, Vietnam’s exports to the U.S. amounted to almost USD 119 billion, up 23.3%, and its imports exceeded USD 13 billion, up 7.3%. As of November, the U.S. had over 1,400 investment projects in Vietnam, with total capital nearing USD 12 billion.
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Products showcased at the Investment & Trade Promotion Center of Ho Chi Minh City |
Chairman of the U.S.-Vietnam Business Council Kevin Morgan said with the new U.S. administration (the second term of President Donald Trump), while the specifics of the new trade and tariff policies remain uncertain, it is prudent for businesses to prepare and plan for various scenarios to continue operating effectively in the market.
Experts argue that the changes in U.S. trade policies will present both opportunities and challenges for Vietnam whose participation in numerous free trade agreements (FTAs) has been a key factor in enhancing the competitiveness of its exports.
However, the U.S. complex legal framework means that the market poses inherent risks. To increase exports, Vietnamese firms should collaborate with importers and distributors in the U.S. to explore flexible payment methods and risk-sharing mechanisms, particularly in the early stages of market entry.
For agricultural and food products, businesses should consider investing in cold storage facilities to establish distribution centers at major U.S. ports able to handle various product categories. This approach would help them reduce costs and have greater control over the supply chain when exporting to the market.
Moreover, experts predict that the new trade policies might impact Vietnamese businesses in areas such as trade, tariff, technology, finance, and investment. As such, domestic enterprises, especially small- and medium-sized ones, need to stay abreast of emerging trends, develop appropriate plans, and strengthen connections to foster future business collaborations.
Source: VNA