From Breitbart: President Donald Trump on Wednesday announced that the United States has reached a new trade agreement with Vietnam, outlining key terms that would impose a 20 percent tariff on Vietnamese goods, a 40 percent tariff on transshipped products, and full tariff-free access for American exports to the Vietnamese market.
The deal, unveiled just days before a 90-day suspension of the administration’s reciprocal tariffs was set to expire, appears to formalize elements of Trump’s longstanding push to balance trade relationships by linking tariff rates to trade imbalances.
In a Truth Social post, Trump announced:
It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam. It will be a Great Deal of Cooperation between our two Countries.
The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping. In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade.
In other words, they will “OPEN THEIR MARKET TO THE UNITED STATES,” meaning that, we will be able to sell our product into Vietnam at ZERO Tariff. It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam.
Dealing with General Secretary To Lam, which I did personally, was an absolute pleasure. Thank you for your attention to this matter!
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