This article aims to analyze the commercial activities between the Indochinese Union (Indochina) and the United States in the first half of the XX century. The study focuses on three fundamental issues: The US efforts to seek markets in the Indochina region; commercial exchanges between the French-controlled Indochina and the US in the first half of the XX century; and the commercial benefits that the parties obtained. The results show that the commercial exchange between the Indochina and the US was under the strict management and control of the French colonial government. The policies that France conducted in Indochina during this period caused many disadvantages for the Indochina - US commercial relationship. The Indochinese Union did not have much freedom in choosing trade partners and was highly dependent on France's policies in the colonies. Apart from the subjection to France’s manipulation, commercial exchanges between the Indochina and the US had different rules compared to other European and American countries. Starting from merely commercial activities, the US intervened more deeply in the region by launching a military invasion of Indochina. This study contributes to clarifying the commercial policies of France towards the Indochina during the colonial period, the commercial activities of the US in the Far East region, as well as the history of Vietnam in the first half of the XX century.