US remains Vietnam’s largest importer
As of mid-July, the US remained Vietnam largest export market, with a value of nearly 21.6 billion USD - 19 percent of the total.
According to the Ministry of Industry and Trade, Vietnam's main export products to the US include aquatic products, textiles, garments, footwear, wood, wood products, machinery, equipment, tools, and spare parts. Vietnam imports from the US computers, electronic spare parts, animal feeds, cotton, and soybeans. Deputy Minister of Industry and Trade Do Thang Hai said the changes in US trade policies will have a big impact on many Vietnamese export items, adding that the Ministry encourages and will support Vietnamese businesses in building a supply chain to the US market. The US business community hailed Vietnam's effort to improve its investment environment, said James Fatheree, Vice President for Asia of the US Chamber of Commerce. He added that Vietnam's political institution reform and human resources are a good foundation for bilateral cooperation.