The joint statement was announced on October 26, on the occasion of U.S. President Donald Trump and Vietnamese Prime Minister Pham Minh Chinh’s attendance at the 47th ASEAN Summit and related summits in Kuala Lumpur, Malaysia.
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Loading and unloading export goods at Hai Phong international container terminal |
Bui Quy Thuan, head of the research division at the Vietnam Industrial Park Finance Association (VIPFA), said that this move marks a strategic milestone, highlighting Vietnam's success in negotiating reciprocal tariffs with the U.S. as well as reinforcing its consistent foreign policy amid the current complex geopolitical landscape.
This statement establishes an important legal framework, and ensures fairness in the economic partnership between Vietnam and the U.S., paving the way for a long-term, mutually beneficial cooperation aligned with the comprehensive strategic partnership between the two countries. It creates stability, trust, and predictability for their businesses and investors engaged in investment and trade.
It also demonstrates that rather than simply engaging in traditional trade exchanges, the two countries can collaborate to address core issues such as market transparency, intellectual property protection, and the promotion of sustainable development, Thuan said, affirming that this provides a foundation for expanding cooperation into new areas of mutual interest such as high technology, energy, and the digital economy.
The identification of products in Annex III to Executive Order 14356, dated September 5, 2025, “Potential Tariff Adjustments for Aligned Partners,” to benefit from a 0% tariff rate is highly significant for Vietnam's key export products. This move indicates that the U.S. may consider Vietnam as an aligned partner in economic relations, in line with the comprehensive strategic partnership.
From a legal perspective, the recognition of Vietnam as an aligned partner in trade, as outlined in Annex III to Executive Order 14356, is not just a preferential treatment, but also represents an official acknowledgment from the U.S. of Vietnam as a partner with a like-minded trade orientation.
Economically, this statement will strengthen Vietnam's position in the global supply chain. With 0% tariffs, Vietnamese goods will become more competitive in the U.S. market. At the same time, Vietnam will emerge as a more attractive and stable destination for investors seeking to diversify supply chains. This boost in confidence will encourage foreign direct investment (FDI) from the U.S. and Europe, leading to a wave of high-quality investment in Vietnam in the near future, Thuan assessed.
Moreover, it allows Vietnam to pro-actively shape a new framework for economic relations with the U.S., particularly within bilateral trade exchanges that align with Vietnam’s strategic orientation and economic policies in its new era of the nation’s rise. At the same time, it affirms Vietnam’s role as a reliable and responsible partner for the U.S. in remaining committed to global standards such as transparency and institutional reform, he added.
Source: VNA