Chinese firms in Vietnam upbeat over US tariff deal: ‘better than expected'
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Most Chinese exporters are likely to continue operating in the Southeast Asian nation in the wake of the agreement, with firms viewing the final tariff rate as manageable, analysts and businesspeople in the country told the Post.
US President Donald Trump announced on Wednesday via a social post that the United States
would impose a 20 per cent tariff on imports from Vietnam – plus a 40 per cent duty on goods deemed to be transshipped – under a new trade agreement, calling it 'a great deal of cooperation between our two countries'.
The new rate is significantly lower than the 46 per cent so-called 'reciprocal' tariff on Vietnamese goods that Trump announced in early April, before subsequently pausing for 90 days.
Hanoi and Washington reportedly
held three rounds of negotiations to reach the deal, which also slashes Vietnamese duties on US goods to zero, eventually confirming an agreement just days before the 'reciprocal' tariff pause was due to expire on July 9.
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