Trump boasts trade deal with Vietnam – Washington Examiner
President donald Trump recently announced a new trade deal with Vietnam, coinciding with the expiration of a temporary pause on his previously established “reciprocal tariffs.” In a post on Truth Social, Trump expressed his honor in concluding the agreement after discussions with To Lam, the General Secretary of the Communist Party of Vietnam. The deal entails Vietnam paying a 20% tariff on imported goods and a 40% tariff on transshipping to the U.S. In return, Vietnam will provide the U.S. with total access to its markets for trade, allowing American products to be sold at zero tariff rates. The declaration comes as the Trump management intensifies efforts to establish new trade agreements ahead of the end of the pause on “Liberation Day” tariffs,which were previously set to be as high as 46% on Vietnamese goods. The White House has not released additional information about the specifics of the trade agreement.
Trump announces new trade deal with Vietnam
President Donald Trump announced on Wednesday a new trade deal with Vietnam ahead of the July 9 expiration of the pause on his “reciprocal tariffs.”
“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,” Trump wrote on Truth Social. “It will be a Great Deal of Cooperation between our two Countries.”
According to Trump’s post, Vietnam will pay the United States a 20% tariff on any goods imported, “and a 40% Tariff on any Transshipping.”
Trump claimed that Vietnam would give the U.S.”TOTAL ACCESS to their Markets for Trade,” allowing the U.S. to sell products at a zero tariff.
Earlier this year, Trump announced a 90-day pause on his “Liberation Day” tariffs. As the deadline for the pause approaches, the Trump administration has been furiously working on new trade agreements with the nation’s trade partners.
Before the “Liberation Day” tariffs, the U.S. was set to impose a 46% tariff on Vietnam.
According to the Office of the U.S. Trade Representative, U.S. goods trade with Vietnam totaled an estimated $149.6 billion in 2024.
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“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,” Trump also wrote. “Dealing with General Secretary To Lam, which I did personally, was an absolute pleasure. Thank you for your attention to this matter!”
The White House did not provide further details on the trade agreement.
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