The president touted a new trade deal with Vietnam in a Truth Social post on Wednesday.
President Donald Trump on Wednesday touted a new trade agreement with Vietnam, marking the third such deal that has been announced under escalating global trade tensions.Why It Matters
The agreement comes as the Trump administration pursues a series of « take it or leave it » deals with multiple trading partners under tight deadlines. The trade framework departs from traditional, mutually negotiated arrangements, reflecting Trump’s broader use of unilateral tariffs and set time frames to extract concessions from partners.
This approach, which has already been applied to other major U.S. partners like China, Japan and South Korea, has contributed to volatility in global markets and caused some uncertainty for American consumers, manufacturers and businesses.President Trump RemarksTrump announced the news in a Truth Social post, stating he personally negotiated the arrangement with To Lam, the general secretary of the Communist Party of Vietnam.
« In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade », Trump wrote on social media. « In other words, they will ‘OPEN THEIR MARKET TO THE UNITED STATES’, meaning that, we will be able to sell our product into Vietnam at ZERO Tariff.
« 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. Dealing with General Secretary To Lam, which I did personally, was an absolute pleasure. Thank you for your attention to this matter! »Key Terms of the U.S.-Vietnam Agreement
The new deal stipulates a 20 percent tariff on all Vietnamese exports to the United States and a 40 percent levy on goods transshipped through Vietnam.
