Former U.S. President Donald Trump announced Wednesday that a new trade agreement has been reached with Vietnam, concluding months of negotiations. The deal imposes a 20% tariff on many Vietnamese imports — a figure notably lower than the 46% Trump initially proposed in April.
Speaking on Truth Social, Trump said the agreement was reached following talks with Vietnam’s General Secretary To Lam. Under the new deal, goods re-exported from Vietnam via third-party countries will face a steeper 40% tariff, aimed at preventing trade circumvention.
In return, Vietnam will grant duty-free access to U.S. exports, which Trump described as a “significant breakthrough.” He singled out the American SUV as a strong product candidate for the Vietnamese market, calling it a “magnificent addition” to local product lines.
Neither the White House nor Vietnam’s Ministry of Trade issued immediate public responses to confirm the terms or timeline of implementation.
