In the first nine months of 2019, Vietnam’s exports to the US jumped by 34.8 per cent year on year. The United States is Vietnam’s largest export market. Overall, Vietnam-US trade will likely to continue to increase. However, Vietnam will need to be more careful particularly for industries such as steel, footwear and agricultural products exports to the US that have been growing. If it does not, the United States is likely to impose countervailing duties on products that it deems to harm its domestic industries. Vietnam however, will have to be even more careful to deal with origin fraud and transshipment as this has been the source of US tariffs on Vietnam in the past. The tariffs were imposed to prevent steel products that originated from China attempting to bypass anti-dumping rules. Vietnam subsequently issued new regulations related to the origin of exported and imported goods. Most recently, Vietnam addressed transshipment and origin fraud. The move was in line to satisfy US rules of origin requirements and address the trade surplus.

The US recently slimmed down its list of developing and least developed countries, thus removing Vietnam from receiving preferential trade benefits. The move, however, was not directed specifically at Vietnam but included several other countries.