Vietnam and Pakistan reaffirmed their commitment to advancing new initiatives and deepening practical, sustainable trade relations at the fifth meeting of the Vietnam-Pakistan Joint Subcommittee on Trade in Hanoi on July 11.

Pakistan and Vietnam have agreed to initiate negotiations on a Pakistan-Vietnam Preferential Trade Agreement (PTA) within this year.

Vietnam will devise measures to improve product quality to cope with potential risks from U.S. tariffs, as it seeks to expand exports to other markets and reduce its reliance on the United States, the country's deputy trade minister said on Wednesday.

President Donald Trump announced today via Truth Social that the United States and Vietnam have reached a landmark trade agreement.

The president said he had agreed to initial trade terms with Vietnam, the second country to strike a limited deal after Mr. Trump threatened steep tariffs.

At the heart of Trump’s latest trade deal with Vietnam and talks with other trading partners is an effort to counter what he sees as China’s unfair practices to circumvent U.S. tariffs.

The US trade agreement with Vietnam reportedly lowers tariffs but lacks detail, triggering sharp warnings from Chinese officials.

Vietnam is moving swiftly to diversify its export markets and reduce economic dependence on the US after the US-Vietnam trade agreement announced on July 4, 2025, imposed steep new tariffs.