07/03/2025

President Trump Announces Trade Deal with Vietnam

The deal will let U.S. goods into Vietnam duty-free

President Donald Trump announced a trade deal with Vietnam Wednesday that would allow U.S. goods to enter the country duty-free. Vietnamese exports to the United States, by contrast, would face a 20 percent tax for Americans to pay.

On his Truth Social platform, Trump declared the pact “a Great Deal of Cooperation between our two Countries."*

In April, Trump announced a 46 percent tax on Vietnamese imports — one of his so-called reciprocal tariffs targeting dozens of countries with which the United States runs trade deficits. Trump promptly suspended the reciprocal tariffs for 90 days to allow for negotiations like the one with Vietnam. The pause expires Tuesday, but so far the Trump administration has reached a trade agreement with only one of those countries — the United Kingdom.

Please select this link to read the complete article from The Associated Press.

*Grammatical errors related to capitalization and punctuation were not rectified by OSAP.