Vietnam's Top Leader Heads to US Amid Trade Deal Hopes

Multiple commercial agreements are expected to be announced between American firms and Vietnamese companies in the energy, technology, aviation, and finance sectors during the visit of Vietnam's top leader, To Lam, to New York for the UN General Assembly, Reuters reported. While many of these agreements are understood to be non-binding, they are seen as part of Vietnam's months-long strategy to appease Washington, which has threatened new tariffs on the export-reliant nation. A draft internal plan lists 29 potential agreements to be announced on September 23 at a business conference attended by Mr. Lam. US energy companies Murphy Oil and Chevron are expected to announce deals with Vietnam's state-owned oil and gas group, Petrovietnam. ExxonMobil is set to announce an agreement with Binh Son Refining and Petrochemical, which operates Vietnam's second-largest refinery. Binh Son had signed a deal with Chevron for oil supply in February, but no subsequent purchase has been announced. Murphy Oil is involved in oil and gas exploration in Vietnam, while ExxonMobil operates the country's largest gas field, which remains undeveloped. These deals are expected to be announced on Mr. Lam's final day in New York before he travels to Canada for a state visit. Reuters cited three officials as saying the Vietnamese leader is scheduled to speak at the UN General Assembly on September 22 and hold meetings with several US corporations. Mr. Lam's itinerary in the US has not yet been officially released. Reuters sources also indicated that the trip aims to advance trade talks with the US, potentially leading to a trade agreement that has been under negotiation for over a year. However, sources said it remains uncertain whether Mr. Lam will meet with US President Donald Trump. A White House official stated on September 15 that President Trump's agenda during Mr. Lam's visit had not yet been determined. Since becoming General Secretary in August 2024, Mr. Lam has visited the US twice. His first visit was in September 2024 to New York to attend the 79th UN General Assembly as General Secretary and President. Most recently, on February 20, 2026, the Vietnamese leader visited the US to attend the first session of the Gaza Peace Council. During that trip, Mr. Lam met with Mr. Trump at the White House. The document, which could be subject to change and does not detail the content of the planned agreements, also lists several deals involving Vietjet Air, including agreements with aviation partners and SpaceX. According to a separate Vietjet document, the low-cost airline plans to announce the lease of 22 aircraft from four leasing companies, comprising 17 Boeing 737s and five Airbus A321neos. The Vietjet document also states that a planned contract with SpaceX aims to provide Starlink satellite internet services for 120 of the airline's aircraft. The documents also indicate that Vietjet plans to sign MOUs with US aircraft engine maintenance companies. According to Reuters, the preliminary list also includes an unspecified agreement between Meta and Vietnam's Ministry of Culture, Sports and Tourism, along with a separate deal between US chip giant Qualcomm and Vietnamese telecom firm VNPT. Qualcomm is currently involved in deploying 5G networks in Vietnam, while Meta's Facebook is the most popular social media platform in the country of over 100 million people. According to the document, Visa, Mastercard, and Citibank are also expected to announce agreements with partners in Vietnam's financial and hospitality sectors. Mr. Lam's planned visit to the US in September 2026 comes at a time when Vietnam holds the world's largest trade surplus with the United States. In the first half of 2026, Vietnam surpassed China, Mexico, and Taiwan to become the US's largest goods trade surplus partner, at approximately $114 billion, according to Washington's figures. Following a series of tax policy changes, the US currently imposes a 12% tariff on imports from Vietnam, which the country considers its largest export market. Analysts suggest that the widening of Washington's trade deficit with Hanoi is not only due to transshipment from China but also reflects another wave of major manufacturers relocating production to Vietnam. Some US companies such as Apple, Nike, and Lululemon have moved part of their production to Vietnam in recent years.