US-Vietnam Trade Deal: A Strategic Win for Hanoi's Economy

The recent trade agreement between Vietnam and the United States signifies a pivotal moment for the Vietnamese economy, offering a strategic advantage in the global market. The deal, which involves reduced U.S. tariffs on Vietnamese exports, is a testament to Vietnam's proactive approach to international trade. According to recent reports, U.S. goods trade with Vietnam totaled an estimated $149.6 billion in 2024. Furthermore, U.S. goods exports to Vietnam in 2024 were $13.1 billion, up 32.9 percent from 2023. This agreement is particularly significant because Vietnam's exports to the US accounted for roughly 30 percent of its total export value in 2024. This positions Vietnam as a rising hub for production and trade in the region.