On October 26, 2025, Vietnam and the United States agreed to announce the Vietnam-US Joint Statement on the Framework for a Trade Agreement for Counterfeit, Fair and Balanced (C concerted Statement) on the occasion of President Donald Trump and Prime Minister Pham Minh Chinh attending the ASEAN Summit held from October 26 to 28, 2025 in Kuala Lumpur, Malaysia.
The Joint Statement is a document that Vietnam and the United States agreed to issue to demonstrate the results of the bilateral trade talks up to now as well as to recognize the efforts of Vietnamese and US government agencies and enterprises in building economic and trade relations on a balanced, stable and sustainable basis, in line with the Vietnam - United States Comprehensive Strategic Partnership.
The Joint Statement refers to the main contents of the Comprehensive, Fair and Balanced Trade Agreement, according to which both Vietnam and the United States will cooperate in a constructive spirit to address concerns of both sides regarding non-tax barriers, agree on commitments related to digital trade, services and investment; discuss intellectual property, sustainable development as well as strengthen cooperation to improve resilience of the supply chain...
In the joint statement, the United States and Vietnam acknowledged recent trade agreements between US and Vietnamese enterprises in the fields of agriculture, aerospace and energy.
Vietnam Airlines has signed a contract with Boeing to purchase 50 aircraft with a total value of over 8 billion USD.
Vietnamese enterprises have signed twenty memorandums of understanding with US enterprises on the purchase of US agricultural products, with a total estimated value of more than 2.9 billion USD.
In the coming time, the two sides will continue to discuss and implement further work towards completing the Comprehensive Trade Agreement, fairness and balance on the principles of openness, construction, equality, respect for independence, self-reliance, political institutions, mutual benefit and consideration of each other's development level.
Previously, since the end of April 2025, Vietnam and the United States have organized many bilateral trade negotiations at both the technical and ministerial levels.
The Vietnamese Government negotiation delegation led by Minister of Industry and Trade Nguyen Hong Dien includes leaders and officials of ministries and agencies: Industry and Trade, Foreign Affairs, Public Security, Finance, Justice, Agriculture and Environment, Science and Technology, Home Affairs, Construction, Health, State Bank and Embassy of Vietnam in the United States.
Many direct and online negotiations took place between Minister of Industry and Trade Nguyen Hong Dien, Head of the US Trade Representative Agency (USTR) Jamieson Greer and US Secretary of Commerce Howard Lutnick.
In the early morning of August 1, 2025 (Vietnam time), the White House published President Donald Trump's decree on adjusting the counterpart tax rate, accordingly the United States adjusted the counterpart tax rate for 69 countries and territories listed in Appendix I. According to this Appendix, the counterpart tax rate for Vietnam decreased from 46% to 20%.
