Trump Secures Major Trade Deal with Vietnam: Boosts U.S. Exports and Bilateral Ties

 

Former U.S. President Donald Trump has finalized a major trade deal with Vietnam, marking a significant development in economic relations between the two nations. The agreement, which was signed during a high-profile visit to Hanoi, aims to boost American exports while opening up new markets for Vietnamese goods in the United States.

The new trade pact includes provisions for reduced tariffs on key U.S. exports, including agricultural products, machinery, and technology. In return, Vietnam will benefit from greater access to the U.S. market for textiles, electronics, and seafood.

"This is a big win for American workers and farmers," Trump said during a joint press conference with Vietnamese officials. "We’re opening new doors for our economy, and we’re building a stronger relationship with a vital partner in Asia."

Vietnamese Prime Minister Phạm Minh Chính welcomed the deal, calling it "a new chapter in U.S.–Vietnam cooperation." He emphasized that the agreement would help balance trade relations and support Vietnam’s continued economic growth.

Analysts say the deal could also serve as a counterbalance to China’s influence in the region, positioning Vietnam as a strategic ally for the United States in Southeast Asia.

The trade agreement is expected to take effect later this year, pending final legislative approvals in both countries. Economists predict it could generate billions in trade value over the next five years.