America and Vietnam Reach Trade Agreement

SadaNews - On Wednesday, U.S. President Donald Trump announced that the United States has finalized a trade deal with Vietnam after months of negotiations, which includes imposing a 20 percent tariff on many imports coming from this Southeast Asian country.

This rate is lower than the initial tariffs announced by Trump last April, which were set at 46 percent on Vietnamese goods, a move largely driven by Vietnam's significant trade surplus with Washington.

Trump wrote on the "Truth Social" platform: "I am honored to announce that I have just made a trade deal with the Socialist Republic of Vietnam after speaking with the respected General Secretary of the Communist Party of Vietnam, To Lam."

Increased Tariffs on Transshipments

Trump clarified that Vietnamese goods will be subject to a 20 percent tariff, and transshipments from third countries will face a 40 percent tariff.

He added that Vietnam will provide the United States with greater access to its markets, as no tariffs will be imposed on American exports to Vietnam.

Four-Wheel Drive Vehicles in Future Expectations

Trump stated: "In my opinion, the SUV, also known sometimes as the large engine vehicle, which performs very well in the United States, would be a great addition to the various production lines in Vietnam."

No immediate comment was made by the White House or the Vietnamese Ministry of Commerce regarding the announcement.