President Donald Trump announced on Wednesday via Truth Social that the United States and Vietnam have reached a framework agreement for a new bilateral trade deal, outlining key tariff provisions and expanded market access for U.S. exporters.
Under the terms of the agreement, all imports from Vietnam into the United States will be subject to a 20% tariff, according to the President’s statement. In return, the U.S. will gain what Trump described as “total access” to Vietnamese markets, including zero-tariff privileges for U.S. exports entering Vietnam.
The announcement also referenced a 40% tariff on transshipped goods, though further details regarding implementation and scope were not disclosed.
“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 posted.
The deal was finalized just one week before the expiration of the Trump administration’s 90-day moratorium on country-specific reciprocal tariffs, scheduled to end on July 9. Prior to the agreement, imports from Vietnam were facing the possibility of a 46% tariff if no deal was reached.
Vietnam is the third country, following the United Kingdom and China, to negotiate a bilateral arrangement under the new U.S. tariff framework.
According to data from the U.S. International Trade Commission, Vietnam accounted for approximately 3% of total U.S. trade in 2024. Last year, Vietnam exported $137 billion in goods to the United States, while U.S. exports to Vietnam totaled around $13 billion.
The agreement signals a significant shift in U.S.–Vietnam trade relations and is expected to have a notable impact on global supply chain strategies, particularly in sectors such as textiles, electronics, and consumer goods.
Source: https://www.supplychaindive.com/news/us-vietnam-agree-trade-deal-framework-tariffs/752219/
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