U.S. President Donald Trump announced on Wednesday that the United States has reached a trade agreement with Vietnam following several months of negotiations. Under the new arrangement, a 20% tariff will be applied to a broad range of Vietnamese imports—a figure notably reduced from the initial 46% rate proposed by Trump in April. The original proposal targeted Vietnam due to the country’s considerable trade surplus with the United States.
Trump made the announcement on Truth Social, stating, “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.”
According to the president, Vietnamese products entering the U.S. will now be subject to the 20% tariff. Additionally, he emphasized that goods routed through Vietnam from third countries—so-called trans-shipments—will incur a higher tariff of 40%.
The agreement also includes provisions enhancing U.S. access to Vietnamese markets. Trump noted that American exports to Vietnam will no longer be subject to any tariffs, further opening up opportunities for U.S. businesses.
As of now, neither the White House nor Vietnam’s trade ministry has issued an official response to requests for comment.
So far, only the United Kingdom, China and Vietnam have secured a trade deal with Washington. White House floats on striking a deal with India soon, while negotiation with Japan seems to be clouded due to several disagreements.
