U.S. Ambassador to Vietnam: “Recent Tariff Measures Were Not Targeted at Vietnam”
Strengthening Vietnam-U.S. Bilateral Trade Relations
During a meeting with Vietnam’s Ministry of Industry and Trade (MOIT) on February 14, U.S. Ambassador to Vietnam Marc E. Knapper emphasized that recent tariff measures by the U.S. were not aimed at Vietnam. He reaffirmed that the United States remains committed to fostering a positive bilateral trade and economic partnership with Vietnam.
Vietnam Seeks Greater Market Access in the U.S.
At the meeting held at MOIT headquarters, Minister Nguyễn Hồng Diên and Ambassador Marc E. Knapper discussed ways to enhance economic, trade, and investment cooperation, with a focus on key areas such as energy and industry.
Minister Nguyễn Hồng Diên reaffirmed that Vietnam considers the U.S. a top-tier strategic partner, expressing appreciation for the constructive approach and goodwill shown by the U.S. Department of Commerce (DOC) and the Office of the U.S. Trade Representative (USTR) in resolving trade disputes.
He particularly welcomed U.S. efforts to negotiate a bilateral resolution to the anti-dumping disputes on Vietnamese pangasius (catfish) and basa fish at the WTO, with an agreement expected in early 2025.
Vietnam hopes to strengthen economic and trade ties with the U.S. in a comprehensive and sustainable manner, ensuring mutual benefits and long-term strategic trust.
Minister Nguyễn Hồng Diên also emphasized Vietnam’s commitment to increasing imports of U.S. agricultural products and urged the U.S. to further open its market for Vietnamese agricultural exports.
U.S. Keen to Expand Investments in Vietnam
Ambassador Marc E. Knapper highlighted that 2025 marks the 30th anniversary of U.S.-Vietnam diplomatic relations and expressed the U.S. commitment to elevating the bilateral partnership. He reiterated that economic and trade cooperation remains a key pillar in the U.S.-Vietnam strategic comprehensive partnership.
“The public and private sectors in the U.S. are eager to deepen cooperation with Vietnam in emerging sectors such as energy security, climate security, food security, and high technology,” said Ambassador Knapper.
To facilitate this, the U.S. seeks to participate in Vietnam’s major industrial and energy projects and urged the Vietnamese government to streamline regulatory frameworks to unlock further U.S. investment flows in sectors such as renewable energy, semiconductors, artificial intelligence (AI), and aviation.
The U.S. also appreciates Vietnam’s commitment to tackling trade fraud, ensuring transparent trade practices to protect the interests of businesses in both countries.
Addressing concerns about recent U.S. trade policies, Ambassador Knapper explained that the U.S. aims to promote fair trade, safeguard economic security, and protect American workers and businesses.
He reaffirmed that recent tariff measures were not specifically directed at Vietnam, emphasizing Washington’s desire to maintain and enhance economic relations with Hanoi.
Vietnam Welcomes U.S. Investors in Key Sectors
Minister Nguyễn Hồng Diên agreed on the importance of fair trade practices and reassured that Vietnam does not intend to impose trade barriers that could harm U.S. businesses or workers.
Vietnam welcomes U.S. investors in new energy projects, electricity development, oil and gas exploration, LNG infrastructure, and mineral extraction, reinforcing energy security and supply chain stability.
Both sides also committed to implementing the Vietnam-U.S. Comprehensive Energy Cooperation Agreement, signed in October 2019, to advance bilateral collaboration in the energy sector.
Strengthening U.S.-Vietnam Trade Dialogue
Minister Nguyễn Hồng Diên congratulated the nominations of Howard Lutnick as U.S. Secretary of Commerce and Jamieson Greer as U.S. Trade Representative. He also proposed organizing the next Vietnam-U.S. Trade and Investment Framework Agreement (TIFA) Council meeting as soon as possible.
Ambassador Knapper confirmed that he would facilitate discussions between the Vietnamese government and the new U.S. trade officials once their appointments are finalized.
U.S.-Vietnam Trade: Key Statistics
The United States remains one of Vietnam’s largest export markets, while Vietnam is the 9th largest U.S. agricultural export destination.
Vietnam imports significant volumes of U.S. agricultural and industrial goods, including:
- $150 million worth of wheat
- $325 million worth of wood products
- $464 million worth of soybeans
- $512 million worth of pharmaceuticals
- $580 million worth of automobiles and transportation vehicles
- $540 million worth of fruits and vegetables
- $680 million worth of cotton
Additionally, five key U.S. export categories to Vietnam exceeded $1 billion in 2024, including:
- Chemicals
- Animal feed
- Plastics and raw materials
- Machinery and equipment
- Electronic components and semiconductors ($4.4 billion)
U.S. beef, pork, poultry, seafood, dairy, soybeans, corn, grapes, apples, cherries, and blueberries are increasingly popular among Vietnamese consumers. Notably, Vietnam imports over 2 million cartons of U.S. apples annually.
With the continued strengthening of trade ties, both sides are committed to expanding market access, reducing trade barriers, and fostering a mutually beneficial economic relationship.