Vietnam’s Exports to the US Hit Record High Despite Tariff Hikes

Last week, the General Statistics Office of Vietnam released US export data, showing that in the first 11 months of 2025, Vietnam’s trade surplus with the US surged to $121.6 billion, a 27.5% year-on-year increase and a new all-time high. Despite facing a 20% reciprocal tariff imposed by the US, Vietnam’s exports to the US continued to grow robustly in the January–November period, far exceeding the full-year 2024 target of $104.5 billion.

Currently, the US and Vietnam are working to finalize the terms of a bilateral trade agreement, with a new round of negotiations set to take place in the US in the coming days. Earlier, the two countries reached the Framework for a Reciprocal Trade Agreement at the end of October. Under this framework, Vietnam has committed to providing preferential market access for the vast majority of US industrial and agricultural products, recognizing US motor vehicle safety and environmental standards, and simplifying import procedures for US pharmaceuticals and medical devices. In return, the US will maintain the 20% baseline tariff on Vietnamese goods, with zero tariffs applied only to certain eligible products.

These tariffs were introduced to address what former President Trump called an excessive trade imbalance. Vietnam has largely absorbed the cost of these tariffs on its own. Even so, exports to the US rose by 22.5% year-on-year in November, outpacing the 15.1% growth rate seen in exports to the rest of the world, and did not lead to a significant reduction in its trade surplus.

According to Vietnam News Agency, foreign direct investment (FDI) disbursements into Vietnam reached $23.6 billion in the first 11 months of the year, an 8.9% year-on-year increase and the highest figure for the same period in the past five years. This reflects Vietnam’s strong capacity to attract capital and the steady progress in the implementation of foreign-funded projects.

As a leading Vietnamese kitchen cabinet supplier, Union Woods has also seen minimal impact on its US-bound cabinet orders in the first 11 months. A large number of customers still choose Union Woods based on referrals from friends. With extensive experience in undertaking various commercial projects, the company offers high-quality wholesale kitchen cabinets crafted from premium imported American white oak and other plywood materials. Its advanced manufacturing technologies ensure that the framed cabinets produced are more sturdy and durable.