Trade Agreement with Vietnam

President Donald J. Trump announced on Wednesday, July 2nd, that a tariff rate of 20% has been established on U.S. imports from Vietnam.  He also interated that the tariff duty for goods produced in another country and shipped through Vietnam for import to the U.S. will be 40%.

In turn, Vietnam has opened trade to its country for U.S. goods at a 0% tariff.

The administration hopes the new trade agreement will reduce the trade deficit with Vietnam. The total in U.S. goods imports from Vietnam was over $136 billion in 2024 while the U.S. good exports to Vietnam was just over $13 billion.

CBP guidelines on the agreement have not yet been issued.

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