HANOI, Vietnam: As Vietnam seeks to strengthen trade ties and avoid potential U.S. tariffs, companies from both countries signed agreements in energy and minerals during Vietnam's trade minister's visit to the United States, state media reported this week.

Vietnamese trade minister Nguyen Hong Dien traveled to the U.S. this week to discuss trade cooperation, as Washington conducts a broad review of trade deficits. With Vietnam among the countries most exposed to potential tariff increases due to its high export dependency on the U.S., the visit comes at a crucial time for the Southeast Asian nation.

State-controlled PetroVietnam Power, one of the firms involved in the agreements, said Vietnamese companies are in talks with U.S. counterparts to purchase American crude oil and liquefied natural gas (LNG). Executives from PetroVietnam Power are accompanying the minister on the trip.

PetroVietnam Power announced it had signed a memorandum of understanding with GE Vernova to buy GE equipment for gas-fired power plants. While the company did not provide details on all the agreements, it said the total value of the deals signed during the visit amounts to US$4.15 billion. Reuters was unable to verify this figure independently.

Other agreements include deals between PetroVietnam Gas and ConocoPhillips, as well as agreements with Excelerate, Vietnamese oil refiner Binh Son, and U.S.-based Kellogg Brown & Root, according to PetroVietnam Power and state media reports.

Additionally, Vietnam's state-owned fuel trading company, Petrolimex, reached agreements with the U.S. Grains Council, the Renewable Fuels Association, and Growth Energy. Meanwhile, Masan Group signed a mineral processing cooperation deal with the U.S. International Development Finance Corp.

The deals come ahead of a key deadline set by U.S. President Donald Trump for federal agencies to complete their review of trade issues, including persistent trade deficits with countries like Vietnam.

A Reuters analysis found that Vietnam, along with Taiwan and Thailand, is particularly vulnerable to potential U.S. tariff increases due to its high export-to-GDP ratio with the U.S.

As trade tensions escalate, Vietnam's efforts to secure energy and mineral cooperation with American firms could help maintain stable economic ties between the two countries.