Vietnam 2025 Trade Update

U.S.–Vietnam Trade in 2024 & 2025 YTD: What’s Moving, What’s Tariffed, and What It Means

U.S.–Vietnam trade has been booming. In calendar year 2024, total U.S. goods trade with Vietnam reached $149.5B: U.S. imports were $136.5B and U.S. exports were $13.0B.That’s an increase on both sides of the ledger.

The trend has continued through June 2025 (the latest month data is available), the U.S. imported $88.24B in goods from Vietnam and exported $6.92B. Versus the first half of 2024, that’s roughly +42.6% growth in imports and +29.6% in exports—a sign of continued demand plus some front-loading ahead of tariff changes.

What the U.S. is buying from Vietnam: top industries

Vietnam’s export mix to the U.S. is concentrated in a handful of categories that matter to retail, electronics, and home goods supply chains. These include, at the top tier, Electrical machinery & equipment, and machinery and mechanical appliances. Furniture and bedding, Footwear, apparel, and accessories follow in size.

What Vietnam is buying from the U.S.: where to watch

On the U.S. export side, Vietnam’s demand is typically reflected in agriculture (grains, oilseeds, and cotton), machinery/capital goods, and aerospace/parts, with consumer-oriented foods and other inputs supporting its manufacturing base. Recent reports also point to larger U.S. farm shipments to Vietnam in 2025 as trade relationships deepen.

The tariff picture in 2025: what changed, what applies

1) “Reciprocal” baseline tariffs at 20%

• In April 2025, the Administration established a global reciprocal tariff framework.
• On July 31, 2025, the White House modified the schedule, setting Vietnam’s reciprocal tariff rate at 20% and adopting a 40% rate for goods deemed transshipped through Vietnam (largely aimed at Chinese-origin goods routed via third countries). This is now the controlling federal guidance.

2) Section 232 metals     

• As of June 5, 2025, Section 232 tariffs on steel and aluminum (and certain derivatives) were raised to 50% across the board, with country-specific arrangements still mattering in some cases. Shippers should confirm product scope and any exclusions/quotas before entry.

3) Solar cells & modules

• In April 2025, the U.S. Department of Commerce issued final affirmative anti-dumping and countervailing duty determinations on solar cells and modules from Vietnam (along with Malaysia, Thailand, and Cambodia). With affirmative injury determinations, AD/CVD cash deposits and duties apply on covered solar products from Vietnam. Rates vary by producer/exporter.

4) Transshipment enforcement & retailer exposure

• The 40% transshipment tariff policy has raised operational questions for products assembled in Vietnam that incorporate Chinese components. Expect tighter origin reviews, more supplier affidavits, and possible re-engineering of bills of materials for sensitive categories (electronics, apparel, furniture).

What this means for importers

Electronics, furniture, footwear, and apparel are the most exposed U.S. import lines from Vietnam. These categories should be re-costed with a 20% baseline tariff included, plus 232 (if applicable), and AD/CVD where relevant (e.g., solar).

If your product contains China-origin inputs and is assembled in Vietnam, build a paper trail now (supplier declarations, costed BOMs, transformation analysis). Customs scrutiny will increase under the 40% transshipment tariff policy.

U.S.–Vietnam trade expanded significantly in 2024 and continued to accelerate through the first half of 2025. But the bottom line is the tariff regime is materially different now, and importers need to remain flexible.

Sources & further reading

• U.S.–Vietnam 2024 totals (imports, exports, deficit): USTR Vietnam country page. (United States Trade Representative)
• Monthly & YTD 2025 U.S.–Vietnam trade: U.S. Census “Trade in Goods with Vietnam” table. (Census.gov)
• Top U.S. import categories from Vietnam (2024): category summary (HS 84/85/94/64/61–62). (Vietnam Briefing)
• Reciprocal tariff schedule (Vietnam 20%; transshipment 40%): White House proclamation modifying rates (Annex I). (The White House)
• Section 232 metals at 50%: White House fact sheet (June 5, 2025). (Federal Register)