Efforts to Narrow the US-Vietnam Trade Deficit: A Series of Billion-Dollar Orders from Vietnam Airlines, Vietjet, PV GAS

In 2024, Vietnam’s trade surplus with the US reached $123.5 billion, making it the third largest surplus with the US. In response, the US imposed a 46% tariff on Vietnamese goods and the two countries began trade negotiations. Vietnam emphasized the need to enhance cooperation in aviation and technology. Large orders from Vietnam Airlines, Vietjet, and PV GAS are expected to help narrow this deficit.

Vietnam Airlines signed several billion-dollar contracts with Pratt & Whitney, Sabre, and Citi Bank to upgrade its fleet and technology. Vietjet also signed contracts for 100 737 MAX aircraft from Boeing and maintenance agreements with General Electric, amounting to $24 billion. PV GAS signed a $1.3 billion agreement with AES for an LNG terminal project. These moves not only expand trade relations but also help mitigate the deficit between the two nations.