The announcement came during a visit to the United States by a delegation from Vietnam’s Ministry of Agriculture and Environment, led by Minister Do Duc Duy
Vietnam is poised to sign more than $2 billion in agricultural trade deals with the United States, the Vietnamese government announced Tuesday, in a bid to ease trade tensions and avert a potential 46% tariff on exports threatened by President Donald Trump.
The announcement came during a high-level visit to the US by a Vietnamese delegation led by Minister of Agriculture and Environment, Do Duc Duy. The move is seen as a strategic effort by Hanoi to address its trade surplus with the United States—the third largest globally after China and Mexico—and demonstrate goodwill ahead of the next round of bilateral trade talks.
Among the new commitments are five memorandums of understanding (MoUs) signed with the state of Iowa, valued at around $800 million over three years. According to Vietnam’s agriculture ministry, this marks a dramatic increase from the current average of $44 million in annual agricultural imports from Iowa. The agreements cover key commodities such as soybean meal, corn, wheat, dried soybeans, and dried distillers grains (DDGS).
Vietnam is set to enter a third round of trade negotiations with US officials in the coming days. Last month, both sides reported “positive progress” following three days of discussions in Washington.
In addition to agricultural agreements, Vietnam’s delegation sought cooperation with major US firms including Lockheed Martin, SpaceX, and Google, signaling interest in expanding ties beyond trade into high-tech and energy sectors. Notably, a separate agreement was signed with US-based Westinghouse Electric for collaboration on nuclear energy development.
Meanwhile, Trump’s business interests in Vietnam continue to draw attention. His real estate group recently broke ground on a $1.5 billion luxury resort and golf course near Hanoi, with his son Eric Trump and daughter-in-law Lara Trump attending the groundbreaking alongside local development partner Kinhbac City Development Corporation (KBC). The Trump Organization is also reportedly scouting potential sites for a high-rise tower in Ho Chi Minh City.
As trade talks advance, the agricultural deals are being viewed as a significant gesture by Vietnam to rebalance its commercial relationship with the United States and avoid punitive measures that could disrupt one of its most important export markets.