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Vietnam posted a trade surplus of USD 4.67 billion in goods for May 2025, swinging from a USD 0.45 billion deficit in the same month last year, marking the largest trade surplus since August 2020, mainly due to a surge in exports. Exports jumped 14% from a year earlier. However, the export growth reflected a rush by factories to ship goods during a 90-day pause on new US tariffs announced by the Trump administration, despite slowing from a 19.8% surge in April. Last year, shipments to the US accounted for about 30% of Vietnam’s GDP. Under President Trump’s new tariff regime, Vietnamese exports are set to face a 46% increase in levies. The US has submitted a "long" list of "tough" demands in its tariff negotiations with Vietnam, including proposals that could compel the country to reduce its reliance on Chinese industrial imports, according to two people briefed on the matter, speaking to Reuters.