Vietnam and the United States are on the verge of finalising a reciprocal trade and tariff agreement after high-level talks this week in New York. Vietnamese Communist Party chief and President To Lam met with U.S. Trade Representative Jamieson Greer on the sidelines of the UN General Assembly, where Greer described "substantial progress" and said both sides were "very close to reaching the final outcome." A deal would help resolve long-running tensions over Vietnam's trade surplus with the US — which reached $178.2 billion in 2025 — as well as concerns about Chinese goods being rerouted through Vietnam to avoid American tariffs, and would build on the Comprehensive Strategic Partnership the two countries established in 2023.