Vietnamese Businesses to Sign Deals to Import $2 Billion of US Farm Produce

The United States registered a trade deficit of $123 billion with Vietnam last year, and in April, Trump levied 46 percent tariffs on goods from the country.

Iowa's Secretary of Agriculture Mike Naig (C), flanked by his deputy Grant Menke (L) and president of Iowa Corn Promotion Board, Ralph Lents (R) at a meeting with a Vietnamese trade delegation in the Capitol in Des Moines, Iowa, on June 2, 2025. Courtesy of Iowa Department of Agriculture

Vietnamese businesses are set to sign memorandums of understanding (MOUs) to buy $2 billion worth of U.S. farm produce, the country’s state-owned news agency reported on Tuesday.

The Vietnam News Agency said a delegation of 50 Vietnamese companies, led by Agriculture Minister Do Duc Duy, is visiting the United States from June 1 to June 7.