Trump says Vietnam to face 20pc tariff under ‘great’ deal – HUM News

Trump says Vietnam to face 20pc tariff under ‘great’ deal – HUM News


WASHINGTON/HANOI: US President Donald Trump said on Wednesday that the United States has struck a trade deal with Vietnam, after months of negotiations, that imposes a 20 per cent tariff rate on many imports from the Southeast Asian country.

The rate is lower than an initial 46 per cent levy Trump announced in April on goods from Vietnam, largely as a result of its big trade surplus with Washington.

“It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam,” Trump said on Truth Social.

Trump said that goods from Vietnam would face a 20 per cent tariff and that any trans-shipments from third countries would face a 40 per cent levy.

Vietnam would also provide the United States with more market access, with US exports to the country facing no tariffs, he said.

“It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam,” Trump said.

The White House and the Vietnamese trade ministry did not immediately respond to a request for comment.

Meanwhile, US Trump abruptly cut off trade talks with Canada on Friday over its tax targeting US technology firms, saying that it was a “blatant attack” and that he would set a new tariff rate on Canadian goods within the next week.

The move plunges US-Canada relations back into chaos after a period of relative calm that included a cordial G7 meeting in mid-June where Trump and Canadian Prime Minister Mark Carney agreed to wrap up a new economic agreement within 30 days.

It also came just hours after US Treasury Secretary Scott Bessent struck an upbeat tone on trade, touting progress had been made with China on reviving the flow of critical minerals for the US manufacturing sector and in other key tariff negotiations.



Courtesy By HUM News

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