Trump, Vietnam Finalize Trade Deal Before Tariff Hike

President Donald Trump announced a new trade deal with Vietnam after direct talks with Vietnamese General Secretary To Lam, just ahead of a July 9 deadline for higher 'Liberation Day' tariffs. The agreement imposes a 20% tariff on most Vietnamese exports to the U.S. and a 40% tariff on transshipped goods, while Vietnam is expected to grant the U.S. zero-tariff access for American products. The new tariffs will increase import costs for U.S. companies, including major firms like Apple whose products such as iPads, AirPods, and Mac minis are manufactured in Vietnam. Trump emphasized potential gains for U.S. vehicle manufacturers in the Vietnamese market. However, there is some uncertainty regarding the full implementation of the agreement by Vietnam. The deal forms part of the Trump administration's broader strategy to secure trade concessions before the tariff deadline.