Walmart, Target, Costco, and Home Depot express confidence and hope that Vietnam will soon reach an agreement to remove countervailing duties.
U.S. retail giants optimistic about Vietnam’s tariff negotiations
Recently, in an interview with the Government e-Portal, Mr. Do Ngoc Hung – Commercial Counselor and Head of the Vietnam Trade Office in the U.S. – shared insights on bilateral trade between the two countries in Q1/2025.
According to Mr. Hung, Vietnam’s exports to the United States reached USD 31.4 billion in Q1, an increase of 22% year-on-year. In the opposite direction, imports from the U.S. into Vietnam amounted to USD 4.1 billion, up 21%. These figures highlight the complementary nature of trade between the two countries rather than direct competition.
Speaking about challenges related to tariffs, Mr. Hung emphasized that difficulties still offer opportunities. Major U.S. retailers such as Walmart and Target (sourcing around 30% of their goods from Vietnam), as well as Costco and Home Depot, have expressed confidence and hope that Vietnam will soon reach an agreement to remove countervailing tariffs imposed by the U.S.
Walmart to participate in Vietnam International Sourcing for the third consecutive year
Notably, many leading U.S. corporations are considering joining the Vietnam International Sourcing & Ho Chi Minh City Export Forum 2025, scheduled for September 2025 and hosted by Vietnam’s Ministry of Industry and Trade. Mr. Hung sees this as a positive signal for the ongoing trade negotiations between the two countries.
To capitalize on emerging opportunities and mitigate risks, Mr. Hung also recommended that Vietnamese enterprises diversify their export markets by taking fuller advantage of free trade agreements (FTAs), especially next-generation FTAs. In parallel, boosting domestic consumption is crucial for ensuring sustainable growth.
He also advised businesses to enhance supply chain resilience and reduce dependence on raw materials and intermediate goods from any single market.
Regarding trade remedy matters, Mr. Hung warned that as more countries adopt protective trade measures, competitive pressure on Vietnamese goods will intensify. Therefore, full cooperation with U.S. authorities during trade investigations is essential to protect business interests and minimize legal risks.
