Trump announces a US trade deal with Vietnam

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"Trump Announces Trade Agreement with Vietnam Involving New Tariff Rates"

Trump announces a US trade deal with Vietnam analysis cover image CNN 5.9
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Original Article Source: https://edition.cnn.com/2025/07/02/business/trade-deal-vietnam-trump
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On Wednesday, President Donald Trump announced a new trade deal with Vietnam through a post on Truth Social. He outlined the terms of this agreement, indicating that Vietnam would impose a 20% tariff on all goods sent to the United States and a significantly higher 40% tariff on any goods that are transshipped through other countries. This announcement comes as the administration is nearing the expiration of a 90-day pause on reciprocal tariffs, which is set to conclude on July 9. The Trump administration has been pursuing trade agreements with various nations, with this being the third deal completed in the last three months. However, it remains unclear whether the agreement with Vietnam has been fully finalized at this time.

Vietnam has emerged as a crucial trading partner for the United States, ranking as the sixth-largest source of goods imported into the US last year, with imports valued at approximately $137 billion. This figure represents a significant increase, more than doubling the value of goods imported from Vietnam just five years ago, according to data from the US Commerce Department. The new tariffs announced by Trump are notable, as they would have raised the tariffs on Vietnamese goods to a minimum of 46% if the previously announced rates were maintained. As this story develops, further updates are expected regarding the implications of this trade deal and its effect on US-Vietnam relations.

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Source URL: https://edition.cnn.com/2025/07/02/business/trade-deal-vietnam-trump

President Donald Trump said Wednesday he has made a trade deal with Vietnam.

“I just made a Trade Deal with Vietnam,” Trump wrote in aTruth Social post.In a subsequent post he said, “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.”

The 90-day pause on Trump’s “reciprocal tariffs” expires on July 9, and the administration has been working with more than a dozen key trading partners on frameworks of trade agreements ahead of the deadline.

The deal with Vietnam, would mark the third such agreement Trump has arranged with another country over the last three months. It was not immediately clear if the agreement had been finalized.

Tariff rates on Vietnamese goods shipped to the US were set to rise to a minimum of 46% if the rates Trump announced in April held. Tariffs on Vietnam were among the highest he announced.

Vietnam is a major trading partner with the US and was the sixth-top source of goods the US imported last year, shipping $137 billion worth of goods. That’s more than double the value of goods exported to the US five years prior, according to US Commerce Department data.

This is a developing story and will be updated.

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Source: CNN