The United States will impose a 20 percent tariff on many Vietnamese exports, a lower rate than initially proposed, President Donald Trump announced, easing trade tensions just days before a July 9 deadline to increase tariffs on most imports.
Transshipments from third countries through Vietnam, however, will face a 40 percent levy. In return, Vietnam has agreed to accept US goods at a zero percent tariff, according to Trump, who made the announcement on Truth Social after a call with Vietnamese President To Lam.
Originally, the Trump administration had planned a 46 percent tariff on Vietnamese imports. The new agreement represents a significant shift as Trump pushes forward with his broader tariff strategy, which has recently yielded limited results with other major trading partners.
The Vietnamese government confirmed a joint statement on a trade framework but did not specify the tariff details mentioned by Trump. It stated that Vietnam would provide preferential market access to US goods, including large-engine vehicles.
The trade deal is a political win for Trump, whose administration is racing to finalize agreements with key partners. While similar frameworks were reached with the UK and China, talks with Japan remain stalled.
Trump’s move follows a surge in Vietnamese exports to the US, which have nearly tripled since 2018. Vietnam, caught in the middle of US-China trade tensions, seeks closer ties with both powers.
Economists warn the effectiveness of the deal hinges on how transshipment rules are enforced, particularly concerning goods originally made in China. Details on enforcement remain unclear.
Shongjog 