Vietnam will pay 20% tariffs on all products it sends to United States territory and 40% for transshipment, under a trade agreement announced today (2/7) by Donald Trump via Truth Social.
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“Vietnam will do something it has never done before, give the United States of America full access to its markets for trade. In other words, they will open their market to the US, which means we will be able to sell our product in Vietnam with zero tariffs,” the American president claimed.
Trump’s post
“It is my great honor to announce that I just made a trade deal with the Socialist Republic of Vietnam, following a conversation with To Lam, the highly respected General Secretary of the Communist Party of Vietnam. It will be an excellent partnership between the two countries. The terms are that Vietnam will pay the United States a 20% tariff on all goods shipped to our territory and a 40% tariff on any transshipment.
In return, Vietnam will do something it has never done before, give the United States of America FULL ACCESS to its markets for trade. In other words, they will OPEN THEIR MARKET TO THE UNITED STATES, which means we will be able to sell our product in Vietnam with ZERO tariffs.
In my opinion, the SUV or, as it is sometimes referred to, the Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines in Vietnam. The cooperation with General Secretary To Lam, which I did personally, was absolutely pleasant. Thank you for your attention to this matter!”
