Trump Announces Vietnam to Cut Tariffs on U.S. Goods

Former President Donald Trump announced that Vietnam is willing to reduce its tariffs on U.S. goods to zero following a productive call with To Lam, General Secretary of the Communist Party of Vietnam. This development follows Trump's recent imposition of a 46% tariff on Vietnamese goods as part of a broader global trade measure. The potential tariff reduction by Vietnam has positively impacted stocks of companies like Nike and Lululemon, which manufacture goods in Vietnam. Despite this, the tariffs have raised costs for American companies operating in Vietnam, potentially affecting consumer prices. Trump's announcement of 'Liberation Day' tariffs aims to bring manufacturing jobs back to the U.S., but has faced international pushback, with China imposing retaliatory tariffs. The move is seen as part of Trump's broader strategy to address trade imbalances, with further negotiations expected in the near future.