Vietnam wants to boost imports of US food, gas, tech: prime minister

BANGKOK – Vietnam is reviewing import tariffs on U.S. goods as it seeks to avoid a costly trade war with its biggest export destination, according to Prime Minister Pham Minh Chinh.

Vietnam’s trade surplus with the U.S. rose to a record US$123 billion last year, figures released in February showed. Vietnam had the fourth-largest surplus with the U.S. in 2024, behind only China, the European Union and Mexico, all of which are now facing tariffs on their exports to America, imposed by the Trump administration.

“The prime minister emphasized that the Vietnamese government always pays attention to creating favorable conditions for the activities of U.S. businesses and investors in Vietnam, affirming that Vietnam wishes to build a balanced, stable, harmonious and sustainable economic-trade-investment cooperation relationship with the U.S.,” Vietnam’s government said, reporting on a meeting between the prime minister and U.S. Ambassador Marc Knapper in Hanoi on Thursday.

Chinh asked Knapper for U.S. help in creating “favorable conditions for Vietnam to import high-tech equipment from the U.S.,” and said Vietnam was “actively reviewing import tariffs on goods from the United States, encouraging increased imports of key US products that Vietnam needs, especially agricultural products, liquefied gas and high-tech products.”

The prime minister’s comments build on those he made at the beginning of March during a meeting with U.S. business leaders in Hanoi. He told representatives of about 40 companies that Vietnam was considering imports of U.S. aircraft, arms and medicines, among other goods.

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Vietnam and the U.S. raised bilateral relations to the highest level of Comprehensive Strategic Partnership in September 2023. As part of the agreement, the U.S. committed to investing US$2 million to build up Vietnam’s semiconductor industry.

Knapper on Thursday reaffirmed the U.S. commitment to training chip industry workers and said Washington was also interested in helping Hanoi access essential minerals and develop its nuclear power industry, according to the Vietnam government. The U.S. embassy did not comment on the meeting.

While cutting its trade surplus with the U.S. may help Vietnam avoid duties on its exports like those faced by China, which has been hit with 20% tariffs, it has not escaped entirely. On Wednesday, the Trump administration imposed 25% tariffs on steel and aluminum imports from all countries. The U.S. is Vietnam’s third-biggest export market for steel.

Edited by Taejun Kang.

This content originally appeared on Radio Free Asia and was authored by Mike Firn for RFA.

This post was originally published on Radio Free.