Vietnam says reciprocal trade deal with the US is almost complete

Vietnam and the United States have essentially finished negotiating a reciprocal trade agreement, with only a small number of technical issues still to be discussed, Vietnam's Ministry of Industry and Trade said at its quarterly press briefing in Hanoi on 7 October, according to Vietnam News Agency's Vietnam+ service.

Ngo Chung Khanh, deputy director of the ministry's Department of Foreign Market Development and Multilateral Trade, said the two sides have held seven official negotiating rounds since April 2025, plus many ministerial and technical sessions. "The two sides have essentially completed almost all negotiating contents," he said, adding that Hanoi hopes to conclude soon in coordination with US agencies, especially the Office of the US Trade Representative.

Khanh described the US as one of Vietnam's major trading partners and of paramount importance to its exports, and said a deal would create a stable and balanced trade framework.

Fibre2Fashion, reporting the ministry's update on 9 October, noted that Vietnam's leader To Lam met US Trade Representative Jamieson Greer in New York on 21 September, where Greer said the two sides were approaching a final agreement. Citing Vietnam's National Statistics Office, it said the US was Vietnam's largest export market in the first nine months of the year at about $140 billion, with Vietnam's trade surplus with the US reaching $122.62 billion, up 23.8% year on year.

Neither report gave details of the tariff terms the agreement would set, including for textiles and apparel.

What it means for Egyptian exporters

Vietnam is one of the largest apparel suppliers to the United States, and a signed agreement would give its exporters and their buyers more certainty on US duties. Egyptian garment exporters, who sell into the US mainly through the QIZ duty-free route, should follow the final tariff terms closely: if Vietnam secures lower or more stable rates, Egypt's cost advantage in some product categories could narrow, putting more weight on Egypt's speed to market, vertical cotton supply and proximity to buyers.