With the July 9 cutoff for his “reciprocal tariff” pause fast approaching, President Trump revealed on Wednesday that Washington and Hanoi have struck a new trade accord.
20 % duty on Vietnamese imports destined for the United States.
40 % duty on any goods that are merely transshipped through Vietnam.
Zero-tariff access for U.S. products entering Vietnam, as Mr. Trump described it: Vietnam will “OPEN THEIR MARKET TO THE UNITED STATES.”
The president posted the news on Truth Social shortly after a phone call with To Lam, general secretary of Vietnam’s Communist Party. Formal documentation of the agreement has not yet been published, and Hanoi has not issued its own confirmation.
Early April: Mr. Trump imposed extra duties on imports from roughly 90 countries—on top of a universal 10 % tariff—branding the move “Liberation Day” aimed at shrinking the U.S. trade gap.
One Week Later: He temporarily suspended those levies after noticing “queasy” bond markets.
Current Stance: Speaking to reporters Tuesday, the president said he has no intention of extending the pause beyond July 9.
Foreign governments now have less than a week to secure individual agreements if they hope to avoid the reinstated tariffs, while observers await full details of the U.S.–Vietnam pact.
Leave a Comments