On January 8, 2024, the seminar “New U.S. Policies: Impacts on Trade and Investment” took place in Ho Chi Minh City, co-organized by the Investment and Trade Promotion Center (ITPC), the U.S.–Vietnam Business Council, and the Vietnam Initiative Institute.
The U.S. Remains Vietnam’s Largest Export Market
According to Ms. Cao Thị Phi Vân, Deputy Director of ITPC, in 2024, the bilateral trade volume between Vietnam and the United States reached over USD 132 billion.
-
Vietnam’s exports to the U.S.: nearly USD 119 billion, up 23.3% year-on-year.
-
Vietnam’s imports from the U.S.: USD 13 billion, up 7.3% year-on-year.
This data confirms that Vietnam enjoys a substantial trade surplus with the U.S., becoming the 8th largest trading partner and the 4th largest exporter to the U.S. within ASEAN.
Conversely, the U.S. is Vietnam’s second-largest trading partner and its top export destination.
Vietnam’s key export categories to the U.S. include footwear, wooden furniture, machinery, and optical equipment.
In addition, Vietnam continues to attract high-tech investment from the U.S., particularly in semiconductors and microelectronics, strengthening its manufacturing capabilities.
By the end of 2024, the U.S. had over 1,400 investment projects in Vietnam, with total registered capital approaching USD 12 billion.
In Ho Chi Minh City alone, the U.S. ranks 3rd among 110 countries and territories investing in the city, with USD 1.55 billion in registered capital — demonstrating growing investor confidence in the Vietnamese market.
Navigating New U.S. Trade and Tax Policies
While opportunities in the U.S. market remain significant, penetrating and sustaining growth there poses considerable challenges for Vietnamese businesses.
According to ITPC leaders, exporters and investors must stay updated on the latest policy changes, trade regulations, and market trends to capitalize on opportunities and mitigate risks arising from potential shifts in U.S. trade policy.
Mr. Kevin Morgan, Chairman of the U.S.–Vietnam Business Council, emphasized that countries worldwide are closely monitoring the future direction of U.S. trade policy under the next administration.
“Vietnam currently maintains a trade surplus of over USD 100 billion with the United States. Therefore, any new trade or tariff policies from the U.S. will inevitably have an impact on Vietnam,”
Mr. Morgan stated.
He further advised that “businesses should prepare multiple strategies and contingency plans to ensure continuity in their U.S. operations amid policy uncertainty.”
Strategic Insights for Vietnamese Exporters and Investors
The seminar provided participants with up-to-date information and expert analyses on the outlook for Vietnam–U.S. trade and investment relations, including the potential effects of new U.S. economic policies.
Key focus areas included:
-
Trade and tariff policy adjustments
-
Technological and financial cooperation
-
Investment flow trends and opportunities for small and medium enterprises
Speakers highlighted that Vietnamese businesses — especially SMEs — must:
-
Monitor global trade policy developments;
-
Plan for diverse business scenarios;
-
Strengthen partnerships with American counterparts to enhance competitiveness and long-term collaboration.