Vietnam, US seek early conclusion of fair, balanced reciprocal trade agreement

The consensus was reached at a reception hosted by Vietnamese Prime Minister Le Minh Hung in Hanoi on Wednesday for Ambassador Rick Switzer, Deputy U.S. Trade Representative (USTR), during his official visit to Vietnam.

At the meeting, Ambassador Switzer expressed his appreciation for the reception, conveying greetings and congratulations from U.S. President Donald Trump and other U.S. leaders to PM Hung on his new position.

He praised the steady development of bilateral ties, particularly in trade and investment, noting that Hanoi has become one of Washington's key partners in the region.

He underlined that a reciprocal trade agreement plays an important role in bilateral economic ties, commending the constructive engagement and goodwill of Vietnamese ministries and negotiating teams.

The ambassador also affirmed that the Office of the USTR and he personally will continue to closely coordinate with Vietnamese ministries and agencies and make every effort to help both sides reach an agreement soon, contributing to the further development of bilateral relations.

In response, PM Hung welcomed the positive momentum in Vietnam–U.S. relations across a broad range of areas, including politics and diplomacy, trade and investment, defense and security, science and technology and innovation, as well as cooperation on regional and global issues of mutual concern.

The PM welcomed the progress achieved so far in negotiations on a reciprocal, fair, and balanced trade agreement between Vietnam and the U.S., and praised the role of the Office of the USTR as well as Deputy USTR Switzer in advancing the process.

He reaffirmed that the Vietnamese government stands ready to work closely with the U.S. to help both sides conclude the agreement soon, further deepening economic, trade, and investment ties as a key driver of bilateral relations.

He stressed that Vietnam does not pursue policies that create excess production capacity, noting that Vietnamese enterprises operate under market mechanisms.

The PM noted that the two economies are complementary rather than directly competitive.

He said the Vietnamese government continues to welcome and create favorable conditions for U.S. businesses to expand investment and operate successfully in Vietnam, contributing to the country’s development goals.

He underscored that Vietnamese law strictly prohibits all forms of forced labor and that Vietnam is actively implementing its international commitments in this area, including International Labor Organization conventions and obligations under free trade agreements.

The PM also highlighted Vietnam’s determination to combat and strictly address intellectual property rights violations, describing this as a national priority linked to efforts to transform the growth model and implement the Politburo’s Resolution No. 57-NQ/TW on breakthroughs in science and technology development, innovation, and digital transformation.

He stressed that Vietnam hopes the two countries will continue to closely coordinate to advance the comprehensive strategic partnership, established in September 2023, in a more substantive and effective manner, delivering practical benefits to the people of both countries while contributing to peace, stability, development, and prosperity regionally and globally.

The U.S. remained Vietnam’s largest export market in the first four months of 2026, with turnover estimated at US$53.9 billion, Voice of Vietnam reported, citing data from the National Statistics Office under the Vietnamese Ministry of Finance.