Vietnam open to boosting US agricultural imports as tariff risks rise

14/2/2025 15:17

Vietnam stands ready to import more farm products from the United States, according to a statement from trade minister Nguyen Hong Dien on Friday, a day after U.S. President Donald Trump said he would start imposing global reciprocal tariffs.



The Southeast Asian export hub, home to manufacturing operations of multinationals including Apple and Samsung, could be hit hard by any new tariffs. Last year, it posted a record $123.5 billion trade surplus with the U.S., the largest after China, the European Union and Mexico.



"Vietnam is ready to open its market and increase imports of agricultural products from the United States," Dien told U.S. Ambassador to Vietnam Marc Knapper at a meeting this week, the Vietnamese government said on Friday.



More than one-fourth of U.S. exports to Vietnam last year were agricultural products, mostly cotton, soybeans and tree nuts, for a total value of $3.4 billion, according to U.S. government data.



A White House official, who spoke to reporters on Thursday before Trump ordered his team to devise a plan on reciprocal tariffs, said the administration would study countries with the biggest trade surpluses and highest tariffs first.