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Donald Trump said the US had struck a trade deal with Vietnam to lower its reciprocal tariff to 20 per cent, making the Asian country one of the few to reach a trade agreement with Washington.
The US would charge Vietnam a 40 per cent tariff on “any transhipping”, Trump said in a Truth Social post on Wednesday announcing the deal.
The steepness of the tariffs remaining in place following Vietnam’s agreement with the US could rattle countries still hoping to secure significant relief from Trump’s “liberation day” levies that were announced in April.
Vietnam would “give the United States of America TOTAL ACCESS to their Markets for Trade” and apply a zero per cent tariff to US goods, Trump continued.
“It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam,” Trump wrote.
This is a developing story
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