2025 promises to be a year of strong growth in trade relations between Vietnam and the United States, with total export turnover expected to reach between 125 and 130 billion USD.

According to experts, Vietnam's key export industries such as textiles, wooden handicrafts, electronic machinery and equipment, and agricultural products will continue to maintain positive growth momentum.

The United States is Vietnam's largest export market.

Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade), said that the United States is currently Vietnam's largest export market. In 2024, Vietnam will also be the 8th largest partner of the United States, accounting for 4.13% of total exports to this market. In terms of trade surplus, Vietnam is behind China and Mexico in this market.

The US market has a demand for many Vietnamese goods, from agricultural, forestry and fishery products to consumer goods and electronics. In 2025, the textile and garment industry is expected to reach 25 billion USD, growing thanks to the increasing demand for high-quality and environmentally friendly products.

Fine art wooden furniture, with strong growth potential, is expected to reach 10 billion USD, an increase of more than 20% compared to 2024. The trend of consuming sustainable and recycled furniture products in the United States continues to be the main driving force behind this industry.

In addition, high-tech products such as electronic components and telecommunications equipment also contribute significantly to total export turnover, with the value expected to increase by 15-18% thanks to the expansion of production from corporations such as Samsung, Intel, and LG. The agricultural and aquatic products industry, including key products such as shrimp, pangasius, and cashew nuts, is forecast to reach a turnover of over 7 billion USD.

The stability of product quality and the ability to meet strict US food safety standards are key factors helping this industry continue to grow. Items such as rubber and iron and steel are also expected to maintain stable growth, playing an important role in the US industrial production supply chain.

On the other hand, import turnover from the US reached 13 billion USD, up 7.3%. Vietnam has become the 8th largest trading partner of the US and the 4th largest export market of the US in the ASEAN region.

In contrast, the United States is Vietnam's second largest trading partner and largest export market. Vietnam's main exports to the United States include footwear, wooden furniture, machinery and optical equipment. The United States is a key market that many Vietnamese enterprises aim to promote import and export activities. At the same time, Vietnam is also attracting and receiving high-tech investment capital from the United States.

Especially in areas such as microchips and semiconductors, in order to keep pace with the world's science and technology era, Vietnam currently plays an important role in the US global supply chain, while US businesses have made great contributions to Vietnam's economic transformation and development.

The United States is expected to have many changes in the power transition period.

Mr. Do Ngoc Hung, Vietnam Trade Counselor in the United States, commented that the United States is a market with a lot of potential with a population of over 332 million people and a high per capita income.

However, the United States is in the transition period of power, during President Donald's second term, it is predicted that many economic and foreign policies will be adjusted, which will have a profound impact on global trade and investment activities and Vietnam - US trade cooperation.

To increase exports to the US market, domestic enterprises should coordinate with importers and distributors in the United States to study flexible payment methods and support risk sharing, especially in the initial stages of market access.

According to Mr. Do Ngoc Hung, with the third largest trade deficit among the total partners of the United States, Vietnam is at risk of having to pay the same tax rate as China in the initial stage (15%) and may gradually increase if the trade deficit situation is not improved and Vietnam's agreements with the United States are not implemented.

The worrying thing is that it will apply to all exported goods from Vietnam, not just goods related to China (investment, raw materials, labor, etc.). Therefore, the immediate task is to find a solution to the trade deficit problem, although this basically shows that the foreign trade structure of each country is complementary and not directly competitive.

From an expert perspective, Associate Professor, Dr. Dinh Trong Thinh, an economic expert, said that the re-election of Donald Trump as President of the United States will have many impacts on the import and export activities of countries, including Vietnam.

Donald Trump's policy is directed towards the United States, the United States is above all. Therefore, high taxes may be imposed on imported goods and some countries. In addition, the US market still has requirements on goods to ensure that exported goods to their country must meet standards.

In 2024, the total two-way trade turnover between Vietnam and the United States will reach more than 132 billion USD. The United States is Vietnam's largest export market, of which Vietnam's export turnover to the United States is nearly 119 billion USD, up 23.3% over the same period in 2023. Import turnover from the United States reached 13 billion USD, up 7.3% over the same period in 2023.

From the above data, it can be seen that Vietnam has a trade surplus with the United States and has become the 8th largest trading partner of the United States and the 4th largest export market of the United States in the ASEAN region.

Source: Dan Tri Newspaper