Trump announces trade agreements between the USA and Vietnam

Trump announces trade agreements between the USA and Vietnam

Former President Donald Trump announced on Wednesday that he has concluded a trade agreement with Vietnam. In a post on Truth social he explained: "I have just completed a trade agreement with Vietnam." In another contribution, he stated: "The conditions stipulate that Vietnam pays the United States an inch of 20 % on all goods sent to our territory and 40 % on all handled goods."

Details of the trade agreement

The 90-day interruption of Trump's “mutual tariffs” expires on July 9th. The government is currently working with more than a dozen important trading partners on framework conditions for trade agreements before the deadline. The agreement with Vietnam would be the third of its kind that Trump has negotiated with another country in the past three months. It was initially unclear whether the agreement has already been finally decided.

tariff conditions and trading volume

Customs tariffs for Vietnamese goods that are shipped to the USA should increase to a minimum of 46 %, provided that Trump's tariffs announced in April apply. The tariffs on goods from Vietnam were one of the highest he had announced. Vietnam is an important trading partner of the United States and last year took sixth place among the countries that provided the United States with goods with a trading volume of $ 137 billion. This is more than twice the value of the goods exported to the USA five years earlier, as can be seen from data from the US Ministry of Trade.

Current developments

This story continues to develop and is updated regularly.