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Trump announces Vietnam trade deal, 20% tariff on its imports to U.S.

  • On July 2, 2025, following a conversation with General Secretary To Lam, President Donald Trump declared that the United States had reached a trade agreement with Vietnam.
  • The announcement came less than a week before the July 9 expiration of a 90-day pause on Trump's reciprocal tariffs affecting Vietnamese imports.
  • The deal grants the US zero tariffs on goods sold into Vietnam while imposing a 20% tariff on Vietnamese goods entering the US and a 40% tariff on transshipping.
  • Trump stated, "I just made a Trade Deal with Vietnam," and expressed that SUVs could become a popular US product line in Vietnam.
  • This agreement marks the third trade deal Trump arranged in three months and suggests increasing US market access while maintaining protective tariffs on Vietnamese goods.
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Financial Express broke the news in Uttar Pradesh, India on Tuesday, July 1, 2025.
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