(Breitbart)—President Donald Trump on Wednesday announced that the United States has reached a new trade agreement with Vietnam, outlining key terms that would impose a 20 percent tariff on Vietnamese goods, a 40 percent tariff on transshipped products, and full tariff-free access for American exports to the Vietnamese market.
The deal, unveiled just days before a 90-day suspension of the administration’s reciprocal tariffs was set to expire, appears to formalize elements of Trump’s longstanding push to balance trade relationships by linking tariff rates to trade imbalances.
In a follow-up message posted on Truth Social, Mr. Trump said the agreement followed a conversation with To Lam, General Secretary of the Communist Party of Vietnam. Trump described To Lam as “highly respected” and called the exchange “an absolute pleasure.”
According to the post, Vietnam has agreed to a 20 percent tariff on all goods it exports to the U.S. and a 40 percent tariff on goods transshipped through Vietnam from other countries, a practice that has drawn increasing scrutiny from U.S. trade officials.
In return, the United States will be granted full access to Vietnam’s markets with zero tariffs on U.S. goods, a concession Trump described as unprecedented. “Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets,” the former president wrote.
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