U.S. Secretary of State Marco Rubio held a call on Friday with Vietnam’s Deputy Prime Minister and Foreign Minister Bui Thanh Son to discuss trade imbalances and shared concerns over China. The discussion marked the first high-level contact between the two countries under President Donald Trump’s new administration.
Both leaders celebrated the 30th anniversary of U.S.-Vietnam relations and progress under the Comprehensive Strategic Partnership established in 2023. Rubio highlighted concerns about China’s actions in the South China Sea, emphasizing regional security challenges.
While praising strong economic ties, Rubio urged Vietnam to address trade imbalances. The U.S. trade deficit with Vietnam reached over $110 billion in the first 11 months of 2024, a nearly 18% increase from the previous year. This rise reflects Vietnam's growing exports, supported by its depreciating currency.
Vietnam, a key U.S. security partner, faces risks as Trump has threatened tariffs on imports. The country, home to major export hubs for U.S. companies like Apple, Google, Nike, and Intel, relies heavily on trade with the U.S., its largest market.
Previously, Vietnam was labeled a currency manipulator alongside Switzerland due to interventions to devalue its currency. The Southeast Asian nation holds the fourth largest trade surplus with the U.S., following China, the EU, and Mexico.
Rubio’s call underscores the delicate balance between fostering security alliances and addressing economic challenges, with U.S.-Vietnam relations at a pivotal moment in 2025.