The U.S. government opened opportunities for agricultural exports to Vietnam with the new trade agreement signed between the two countries.

In the current agricultural cycle, from October 2024 to May 2025, U.S. exports of agri-food and related products to Vietnam grew 37.3% to $3.445 billion.

Agricultural exports to Vietnam

The agreement announced by President Donald Trump last week provides that certain U.S. goods will enter Vietnam without tariffs.

In return, Vietnam will pay a 20% “reciprocal tariff” on all imports into the United States and a 40% tariff on goods exported through Vietnam from other countries. 

The 40% tariff is primarily intended to discourage triangulation of goods, mainly from China.

From January to May 2025, the United States recorded a total goods trade deficit with Vietnam of $64.804 billion. Its exports were $5.718 million and its imports were $70.522 million.

Vietnam has already signed preliminary agreements to purchase $2 billion in U.S. agricultural products.

The following are some agricultural exports to Vietnam from the United States from October 2024 to May 2025, in millions of dollars, according to USDA data:

• Oilseeds: 814.
• Rice: 371.
• Wheat: 206.

Trade deficit

U.S.-Vietnam goods trade totaled $150 billion in 2024. The figure represents a 21% drop versus 2023. Despite this, the goods trade deficit with Vietnam remained high. It reached $123 billion, the third highest for the United States.

Vietnam is a key supplier of consumer electronics, furniture, clothing and footwear. For its part, the United States exports cotton, civil aviation parts and agricultural products. In the services sector, the picture was different. The United States recorded a surplus of US$1.4 billion.

In the agri-food and related products sector, here are some U.S. exports to the Vietnamese market from October 2024 to May 2025, in millions of dollars:

• Biodiesel: 381.
• Fruit and vegetable juices: 340.
• Hay: 175.
• Distillers grains: 169.
• Pork and pork products: 107.

Vietnam aims to be recognized as a market economy and open the door to higher-value technology exports.