President Donald Trump announced Wednesday that the US reached a trade deal with Vietnam after speaking to To Lam, the general secretary of the Communist Party of Vietnam.
"It will be a Great Deal of Cooperation between our two Countries," Trump posted on Truth Social. "The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping."
The US will have "total access" to Vietnam's markets for trade, he said. "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," he added.
