President Donald Trump announced Wednesday that the U.S. has reached a trade agreement with Vietnam, marking his administration’s third major trade deal ahead of a self-imposed July 9 tariff deadline.
“I just made a trade deal with Vietnam,” Trump wrote on Truth Social, adding that the U.S. will impose a 20% tariff on Vietnamese exports and 40% on goods transshipped through Vietnam.
In return, Trump claimed Vietnam will provide “total access” to its markets and allow American products in at zero tariffs.
Details remain unclear, including whether Vietnam has formally agreed to the terms. The announcement comes as a 90-day tariff pause nears expiration, after which tariffs up to 50% could be imposed.
Vietnam, the sixth-largest source of U.S. imports, shipped $137 billion in goods to the U.S. last year, more than double its 2018 export value, according to Commerce Department data.
