USTR: Vietnam Trade Talks Continue

US and Vietnam trade officials discussed a range of bilateral economic priorities including on agriculture, labor, intellectual property, digital trade, services, ICT products and the environment.

The discussions were held under the US-Vietnam Trade and Investment Framework Agreement, according to a readout from the US Trade Representative’s Office.

It was the first meeting of the Council since the COVID-19 pandemic.  The United States and Vietnam signed the TIFA in 2007.

US goods and services trade with Vietnam totaled an estimated $142.1 billion in 2022, a 422 percent increase over 2012.

Vietnam is the United States’ largest goods trading partner in Southeast Asia. The U.S. is already Vietnam's largest market for its exports

Total goods trade reached $138.8 billion in 2022, of which US exports were $13.8 billion and imports were $128.4 billion. The United States runs a surplus in services trade with Vietnam, with that surplus reaching $1.6 billion amidst $3.3 billion of total services trade during 2022. US foreign direct investment in Vietnam was $3.5 billion in 2022, a 26.8 percent increase from 2021.