U.S. Reaches Trade Deal With Vietnam, Trump Says — Includes 20% Import Tariff

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U.S. Reaches Trade Deal With Vietnam, Trump Says — Includes 20% Import Tariff

 President Donald Trump announce a new trade agreement with Vietnam that introduces a 20% tariff on Vietnamese exports to the United States. This development marks a significant shift in U.S.-Vietnam trade relations, particularly in light of Trump's previous tariffs on various trading partners. The agreement aims to provide the U.S. with "TOTAL ACCESS" to Vietnamese markets, allowing American products to enter Vietnam without any tariffs . This reciprocal arrangement is expected to enhance bilateral trade and strengthen economic ties between the two nations.

Trump’s announcement on Truth Social said that the deal will give the U.S. tariff-free access to Vietnam’s markets.

Vietnam also agreed that goods will be hit with a 40% tariff rate if they originated in another country and were transferred to Vietnam for final shipment to the United States.

    The process, known as transshipping, was used to circumvent trade barriers. China, a top exporter to the U.S., has reportedly used Vietnam as a transshipment hub.

    The benchmark Vietnam Index rose 0.3% to its highest since April 2022, data from LSEG showed.

    Japan’s benchmark Nikkei 225 slipped 0.15% and the Topix lost 0.21%. South Korea’s Kospi added 0.77% and the small-cap Kosdaq rose 0.5%.

    Australia’s S&P/ASX 200 added 0.13%.

    Hong Kong’s Hang Seng index slipped 0.64%, while mainland China’s CSI 300 added 0.14%.

    The country's government approved a plan by the Trump Organization and local business Kinh Bac City Development to invest $1.5bn in hotels, golf courses and luxury real estate.

    The Trump Organization is also scouting for locations to build a Trump Tower in Ho Chi Minh City.

    Trump initially imposed steep levies on trading partners around the world in April , citing a lack of "reciprocity", but then announced a pause where they were all lowered to 10%.

    Many countries then approached the US to negotiate trade deals, according to the White House.

    Additionally, the deal stipulates that Vietnam will offer preferential market access for U.S. goods, including large-engine cars . Furthermore, a notable aspect of this agreement is the imposition of a substantial 40% tariff on goods trans-shipped through Vietnam, reflecting ongoing concerns about trade practices and market manipulation . As details continue to be finalized ahead of an impending deadline for tariff adjustments, this agreement could reshape the landscape of U.S.-Vietnam trade significantly.

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