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

Vietnam achieved a trade surplus of $123.5 billion with the US in 2024, up 20% from 2023, ranking third after China and Mexico. This increase led US President to announce a 46% tariff and initiate trade negotiations to adjust taxes. Vietnam Airlines and Vietjet have signed large contracts, including a $1.5 billion engine purchase for A321neo from Pratt & Whitney and a $12.7 billion agreement for 100 Boeing 737 MAX aircraft. PV GAS signed a $1.3 billion contract for the Son My LNG terminal project, supporting the reduction of the trade deficit. Recently, Vietnam Airlines also signed an MOU with Citi bank for funding over $560 million for strategic investments and is proceeding with new aircraft purchases valued at approximately $3.7 billion. Vietjet is also expanding partnerships with US corporations, planning to receive nearly 300 new aircraft in the coming period with total contract value of about $50 billion.