In 2025, as part of its response to counteract tariffs imposed by US President Donald Trump, Canada introduced several policy measures aimed at enhancing internal trade and promoting Canadian unity. These initiatives emphasize the prioritization of Canadian-made products and discourage reliance on American goods.

Ms. Tran Thu Quynh, Trade Counselor at the Vietnam Trade Office in Canada, highlighted the potential benefits of Canada’s plan to eliminate internal trade barriers.

She believed that this reform will reduce costs for Vietnamese goods to be exported to Canada, as its provinces and territories will mutually recognize goods imported by one region without imposing additional requirements from others.

Despite these promising changes, a key challenge for Vietnam is that its exports to Canada remain subject to trade remedies applied by Canada,  she noted.

According to data from Vietnam Customs, Vietnam’s total exports to Canada in 2024 surpassed $6.37 billion, marking a 13.5% increase compared to 2023.

Meanwhile, local Canadian statistics report that Vietnam exported $10.6 billion worth of goods to Canada in 2024, an 8.2% rise over the previous year. This milestone represents the first time Vietnam’s exports exceeded the $10 billion threshold in its trade history with Canada.

Additionally, Canadian statistics indicate that Vietnam recorded a trade surplus of approximately $9.9 billion with Canada, while Vietnamese data placed the surplus at over $5.5 billion.

Among Canada’s top 10 trading partners, Vietnam remains its 7th largest import partner. Within the ASEAN bloc, Vietnam continues to dominate as Canada’s leading import partner, contributing nearly 45% of Canada’s total imports from the region.