The U.S.-Vietnam relationship has been on an upward trajectory defined by common interests since diplomatic relations between the two countries normalized a quarter-century ago. Vietnam was one of two Southeast Asian countries specifically referenced in the Biden administration’s Interim National Security Strategic Guidance, demonstrating the extent to which it has become an increasingly critical part of U.S. defense planning for the region. Bilateral trade has grown over 200-fold since normalization. People-to-people ties have also grown as Vietnam’s tourism industry has developed. Since normalization, Vietnam has welcomed U.S. tourists, former Vietnam War veterans, and even former refugees and their families. U.S. schools and companies in turn have attracted Vietnamese students and recent graduates, who are among the best educated in the world despite the country’s lower level of economic development.