The United States and Vietnam Reach a Trade Agreement – July 2, 2025
On July 2, 2025, President Trump announced that the United States and Vietnam struck a trade agreement that sets 20% tariffs on many of the Southeast Asian country’s exports following last-minute negotiations. The rate is lower than the initial 46% levy Trump announced in April on goods from Vietnam, which was due to take effect next week.
Trump stated that goods from Vietnam would be subject to a 20% tariff and that any trans-shipments from third countries would incur a 40% levy. Details were scarce, and it was not immediately clear how the trans-shipment provision would be implemented.
Vietnam would also provide the United States with more market access, as U.S. exports to the country would face no tariffs, Trump said. That agreement appears to include U.S. exporters of large-engine cars, according to Trump and Vietnamese state media.
For more information, please visit: https://www.reuters.com/world/asia-pacific/trump-says-he-has-struck-trade-deal-with-vietnam-2025-07-02/
