Trump Strikes New Trade Deal: Vietnam to Face 20% Tariff, US Gains Zero Tariff Access
President Donald Trump announced on Wednesday that Vietnam will face a 20% tariff on its exports to the US while agreeing to open its markets to US goods with a zero tariff.
“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 … 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,” Trump wrote in a Truth Social post.