US President Donald Trump has announced that most Vietnamese exports will be subject to a 20% tariff, down from the previous 46%. The move is aimed at easing tensions with Vietnam, the US’s tenth-largest trading partner.
According to Trump, a 40% tariff will be applied to goods shipped through Vietnam from third countries, while Vietnam will be allowed to import certain goods from the US duty-free (0%).
“I am very honored to announce that I have signed a new trade agreement with the Socialist Republic of Vietnam,” the US president wrote on the Truth Social platform after meeting with Vietnamese leader To Lam.
The July 9 deadline is approaching, the day Trump plans to raise tariffs on most US imports, a key component of his economic policy.
Moreover, the details of the contract have not yet been fully clarified, including whether the 20% rate applies to which goods and whether higher or lower customs duties are possible for some items.
