US and Vietnam Conclude Trade Agreement Amid Tariff Concerns
- brg_news_room
- Jul 3
- 1 min read
Updated: Jul 4
USA: US President Donald Trump announced on Wednesday that a trade agreement had been reached between the United States and Vietnam. Under the terms of the deal, imports from Vietnam to the United States will now be subject to a 20 percent tariff, which is lower than the previously proposed rate of 46 percent that had been announced in April. In addition, a 40 percent tariff will be applied to goods involved in transshipment—cases where items shipped from Vietnam originate from another country, such as China.
Trump further stated that many US goods exported to Vietnam would not be subject to import duties under the new arrangement. The agreement was reached as part of broader trade discussions ahead of a looming deadline for finalizing trade deals between the two countries.
Source: Yahoo Finance