Vietnam is poised to sign agreements with the United States this week during high-level meetings between its trade minister and U.S. trade and energy officials, according to a government document reviewed by Reuters. The move aims to address concerns over Vietnam’s growing trade surplus with the U.S. and avoid potential tariffs threatened by the Trump administration.
Trade Minister Nguyen Hong Dien, who oversees energy and industry policy, will meet U.S. Trade Representative Jamieson Greer on Thursday, followed by discussions with the U.S. Department of Energy and the signing of “a number of agreements” on Friday. The meetings are part of ongoing talks under the U.S.-Vietnam Trade and Investment Framework Agreement (TIFA) established in 2007.
Vietnam has signaled plans to boost imports of U.S. liquefied natural gas (LNG) and revise duties on products like ethanol and agricultural goods. State-controlled energy firms PetroVietnam Gas (GAS.HM), PetroVietnam Power (POW.HM), and power distributor EVN will join Dien’s delegation, underscoring the focus on energy collaboration.
The Southeast Asian nation, which recorded a $69 billion trade surplus with the U.S. in 2023, has faced scrutiny from Washington over trade imbalances. Last month, the U.S. warned Vietnam could lose preferential trade status unless it addresses issues like currency manipulation and labor rights.
While specifics of the agreements remain undisclosed, insiders suggest the deals will emphasize LNG procurement for Vietnam’s expanding energy sector and tariff adjustments to ease U.S. market access. The meetings will also involve U.S. commerce officials and industry groups with interests in Vietnam.