Trump Imposes 20% Tariff on Vietnam in New Trade Deal
Former U.S. President Donald Trump announced on Wednesday that the United States has finalized a new trade agreement with Vietnam, concluding months of tense negotiations.
The deal imposes a 20% tariff on Vietnamese imports into the U.S., while securing zero tariffs on American exports to Vietnam.
Trump revealed the agreement via his social media platform, Truth Social, declaring it 'an honor' to reach a deal with To Lam, Secretary-General of Vietnam's ruling Communist Party. The new tariff structure is a scaled-back version of Trump's earlier proposal in April, which called for a 46% levy on Vietnamese goods.
'Vietnam will now offer the United States much greater access to its markets,' Trump stated. 'There will be no tariffs on American exports.'
Balancing a Growing Trade Imbalance
The move comes as the U.S. continues to grapple with a significant trade deficit with Vietnam — one of Southeast Asia's fastest-growing economies and a major exporter of electronics, apparel, and furniture to the United States.
While Vietnam had hoped to avoid broad-based tariffs, Trump insisted on a punitive approach, arguing that Hanoi had 'benefited unfairly from open U.S. markets for too long.'
Tariffs on Transshipped Goods
In a significant escalation, Trump also confirmed that goods transshipped through Vietnam from third countries would face a 40% tariff, a measure aimed at cracking down on tariff circumvention by countries like China that reroute exports through Vietnamese ports.
American SUVs to Enter Vietnamese Market?
Trump emphasized that the deal is not just about tariffs, but also market expansion for U.S. industries. He specifically highlighted American-made SUVs, calling them 'a great addition to Vietnam's production and consumption lines.'
'In my view, the American SUV, sometimes known as the 'big engine car,' which performs very well in the United States, will be a fantastic fit for Vietnam,' Trump said.
Economic and Political Reactions
Economists warn the agreement could strain U.S.-Asia trade dynamics, particularly given Vietnam's central role in global supply chains. However, pro-Trump business groups have hailed the deal as strategic.
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