Trump Announces 20% Tariffs on Vietnamese Exports, Zero Tariffs for US Goods

President Donald Trump announced a trade deal with Vietnam that imposes a 20% tariff on Vietnamese exports to the United States, while American goods entering Vietnam will face zero tariffs. This agreement, framed by Trump as a "Great Deal of Cooperation," also includes a 40% tariff on goods transshipped through Vietnam to prevent circumvention of existing tariffs, particularly targeting Chinese products. The deal marks a reduction from the initially planned 46% tariff on Vietnamese imports and aims to expand U.S. market access in Vietnam, notably for large-engine vehicles. Trump emphasized the strategic importance of the deal amid the broader context of U.S. trade deficits and his administration's effort to recalibrate trade relationships before a self-imposed July 9 deadline for tariff hikes. The agreement reflects Vietnam's growing role as a trade partner and a key player in U.S. efforts to reduce dependency on China. While the Vietnamese government has not officially confirmed the tariff rates, both sides agreed on a trade framework to enhance bilateral economic ties.