During a recent diplomatic trip to Washington, Vietnam’s Trade Minister Nguyen Hong Dien engaged with top executives from major U.S. companies, including Lockheed Martin, SpaceX, Google, and Excelerate Energy. This visit aimed to address concerns over a proposed 46% tariff on Vietnamese exports and to foster deeper economic ties between the two nations.
The Vietnam News Agency reported that these meetings are part of Vietnam’s strategy to showcase its commitment to strengthening U.S.-Vietnam relations and attracting American investment. Dien emphasized that the Comprehensive Strategic Partnership is crucial for facilitating smoother operations for U.S. businesses in Vietnam.
Discussions with Lockheed Martin focused on Vietnam’s ambitious plans to launch a new-generation communication satellite by late 2026. Additionally, previous meetings highlighted Vietnam’s interest in acquiring C-130 Hercules military transport aircraft. Dien also welcomed SpaceX’s $1.5 billion investment in the Starlink satellite project and encouraged the company to expand its initiatives into clean energy, information technology, and high-tech workforce training.
Excelerate Energy’s proposal to supply U.S. liquefied natural gas to Vietnam aligns with the country’s long-term energy goals, which aim to diversify energy sources and enhance energy security.
Vietnam has been actively working to reduce its trade surplus with the U.S., which reached over $123 billion last year. To address this, the country plans to cut tariffs on American goods and limit the transshipment of Chinese products. Additionally, the finance ministry has revealed plans for Vietnamese firms to establish logistics hubs and an industrial park in the U.S. to further boost bilateral trade and investment.
This proactive approach underscores Vietnam’s ambition to avoid punitive tariffs while positioning itself as a reliable partner for American businesses in the energy, defense, and technology sectors. By strengthening these ties, Vietnam aims to create a more balanced trade relationship with the U.S., paving the way for mutual growth and sustainability.
