By Martin Shwenk Leade
AgenciesTariffs
US President Donald Trump on Wednesday announced a trade deal with Vietnam. Products from the South-Asian country in the US will attract a tariff of 20 per cent, while US products in Vietnam will be sold at zero tariff. Further Vietnam will pay 40 per cent tariff on transshipping. Trump said that the deal was made after speaking with To Lam, General Secretary of the Communist Party. In a post on Truth Social, Trump wrote, “It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam. It will be a Great Deal of Cooperation between our two Countries. The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping. In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade. In other words, they will ‘OPEN THEIR MARKET TO THE UNITED STATES,’ meaning that, we will be able to sell our product into Vietnam at ZERO Tariff.”Trump said that SUVs, which do not sell in America, will do well in Vietnam.Live Events ” 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. Dealing with General Secretary To Lam, which I did personally, was an absolute pleasure. Thank you for your attention to this matter!”(You can now subscribe to our Economic Times WhatsApp channel)
Read More News onTrump Vietnam Trade DealUS Vietnam Tariff AgreementVietnam Market Access USA20 Percent Tariff VietnamZero Tariff US Products VietnamTo Lam Communist Party VietnamTrade Cooperation USA VietnamSUV Trade VietnamUnited States
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onTrump Vietnam Trade DealUS Vietnam Tariff AgreementVietnam Market Access USA20 Percent Tariff VietnamZero Tariff US Products VietnamTo Lam Communist Party VietnamTrade Cooperation USA VietnamSUV Trade VietnamUnited States(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless