Vietnamese Prime Minister Le Minh Hung has proposed the early completion of a reciprocal trade agreement with the United States, saying Hanoi will continue to work closely with Washington to finalise a fair and balanced deal. The message came during his meeting with Deputy US Trade Representative Rick Switzer in Hanoi on 20 May.
Trade remains the central driver
Hung said economic, trade and investment cooperation remains the main driving force in Vietnam-US relations. He also said Vietnam welcomes US companies and is ready to create favourable conditions for them to expand investment and operate effectively in the country.
A strategic partnership deepens
The proposed agreement is part of broader efforts to strengthen the Comprehensive Strategic Partnership between the two countries. Vietnam sees closer US trade ties as important for industrial development, technology, exports and long-term investment confidence.
Vietnam addresses US concerns
Hung stressed that Vietnam does not pursue policies that create excess industrial capacity and that Vietnamese companies operate under market mechanisms. He also said the two economies are complementary rather than directly competitive.
Negotiations move forward
Switzer welcomed the progress made in negotiations and said the Office of the US Trade Representative would continue working with Vietnamese ministries and agencies to reach an agreement soon. If completed, the deal would reinforce Vietnam’s role as one of Washington’s key economic partners in Asia.
Newshub Editorial in Asia – 21 May 2026
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