President Trump Announces Trade Deal with Vietnam

President Donald Trump has reached a significant trade agreement with Vietnam, announcing the deal in a Truth Social post. Under the terms of the agreement, the United States will impose a 20% tariff on Vietnam’s imports, with a 40% transshipment tax to prevent other nations from bypassing trade barriers. In return, Vietnam has agreed to grant the U.S. total market access, allowing American goods to enter Vietnam duty-free.
The deal was finalized ahead of a July 9 deadline, which would have triggered a 46% blanket tariff on Vietnam imports to the U.S. if not resolved. Vietnam’s Ministry of Foreign Affairs confirmed that President Trump has pledged to address bilateral trade issues, including recognizing Vietnam as a market economy and lifting export restrictions on high-tech products.
The agreement aims to strengthen economic ties between the two nations while safeguarding U.S. interests. If finalized before the deadline, the reduced tariff structure will take effect, ensuring a more favorable trade relationship for both countries.

Published: 7/3/2025