CNBC's Eamon Javers joins 'Squawk on the Street' with the latest news from the White House.

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Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

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President Trump has announced a new trade deal with Vietnam, marking the first such agreement since the recent U.K. deal. Under the terms, Vietnamese goods exported to the United States will face a 20 percent tariff, while goods transshipped through Vietnam will be subject to a 40 percent tariff. This measure aims to address concerns about goods from other countries, particularly China, being routed through Vietnam to avoid U.S. tariffs.

In exchange, the Vietnamese government has agreed to provide U.S. exporters with full access to its markets, allowing American products to enter Vietnam without tariffs. This represents a significant change, as Vietnam's average import tariff was previously 9.4 percent. The White House is presenting the agreement as a major success, highlighting the removal of trade barriers for U.S. products and the effort to curb tariff circumvention.

President Trump announces trade deal with Vietnam

We're getting more details here on the trade deal that the president just announced with Vietnam. Eamon Jabbard joins us from the White House, Eamon, with some new tariff rates. Yes, Sarah, that's right. This is the first trade deal that we've seen since that deal with the U.K., and the president putting out some more details here on social media just in the past couple of minutes. He says the terms are that Vietnam will pay a 20 percent tariff on any and all goods sent to the U.S. and a 40 percent tariff on transshipping. That's important because there's been a lot of concern about people trying to do an end run on tariffs of goods that are manufactured in China, then sent through Vietnam, and then out into the rest of the global economy. That seems to be an effort to put a stop to that. He's also saying here that the Vietnamese government will give the United States total access to markets for trade. In other words, the president says here they will open their market to the United States, meaning that we will be able to sell our product into Vietnam at zero tariff. The president going on to say here, it's my opinion that the SUV, or as it's sometimes referred to, large engine vehicle, which does so well in the United States, will be a wonderful addition to the various product lines with Vietnam. So we're looking for a little bit more color here from the White House on exactly when this was signed, sort of what the negotiations were leading up to it. But clearly the White House is set to position this as a big victory this morning, given that all eyes have been focused on that July 9th date for trade deals to start to come to fruition. The White House now saying they've got a trade deal, and it's a big one with Vietnam, guys. Back over to you. So the 20 percent, he says Vietnam pays the 20 percent tariff, but is that to any imports into the U.S.? Yeah. So Nike pays it, all the different retailers pay it for their production? So the way the president talks about tariffs is he talks about other countries paying the tariff. So what tariffs are is a tax on importers in the United States. So I believe what he's referring to there is a 20 percent tariff on Vietnam that would be paid by U.S. importers at the point of where the goods cross the border, right? So U.S. customers would be collecting taxes from American importers of Vietnamese goods. The president talks about that as a cost for the foreign government, the foreign country. In reality, those tariffs are paid by American importers, and they have to, then those importers have to sort out with their suppliers and with others and with their customers where the burden of that tariff is going to fall. Eamon, July 9th is a week away. Is this kind of expected, this particular announcement, are we expecting more like this over the next week? Of course, it comes just after some less constructive comments about Japan. Yeah, I mean, the White House has been predicting a flurry of trade deals before that July 9th deadline, but we haven't seen any. And so this is the first time we've seen one come above the surface, so to speak. And the question is, are there others behind this that are lined up and ready to go? That would be a vindication for the president's tariff strategy here, that rattling the global cage back in April with the so-called Liberation Day tariffs was an effective way to get countries to the table and get them to negotiate trade deals that are more favorable terms for the United States. We'll see whether that happens, but the White House is clearly going to point to this today as a big victory and say, look, we're doing exactly what we said we were going to do. I mean, it's kind of steep terms for Vietnam, not as good of a deal for them. We pay, we go in there with zero tariffs, but it's very interesting. Thank you, Eamon. Yeah, I just want to say one more quick detail from our Megan Casella, who points out that just for context here, Vietnam's average tariff on imports before this was 9.4 percent. So that's a big, that's a big step up, right? Right. No, that's a concession that they're getting, that the U.S. is getting for shipping our exports there tariff-free. Thank you. They don't buy that much from us. Not as much as we take from them. No, of course not. Clearly. But, you know, what's interesting, David, is that the market is not reacting really to that. No, although we are seeing some Nikes up 2 percent. Some of the names in particular that do, that rely a lot on manufacturing in Vietnam are benefiting. Maybe it's good to just have some clarity here, ultimately, with the big unknown over what would happen. And certainly not revert to that 40 percent, which was originally, or 40-something percent, which was 44 percent or something originally announced. I'm just looking at some of the retailers, but they do, you know, remain higher, consumer discretionaries higher as a group right now.

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President Trump announces trade deal with Vietnam

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