The United States will place a lower-than-promised 20% tariff on many Vietnamese exports, Donald Trump said, cooling tensions with its tenth-biggest trading partner days before the U.S. president could raise levies on most imports.

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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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The United States has decided to implement a 20% tariff on many Vietnamese exports, a rate lower than the previously anticipated 46%. This announcement, made by Donald Trump in a social media post, comes shortly before a deadline for new trade agreements. While specific details about which products will be affected remain unclear, the Vietnamese government has confirmed a commitment to provide preferential access for US goods, including large-engined cars.

Under the new agreement, products trans-shipped from third countries through Vietnam will still face a 40% tariff, a measure aimed at goods largely originating from China. Trade experts note that the definition of trans-shipment remains ambiguous. Vietnam's exports to the US have grown significantly in recent years, while US exports to Vietnam have increased at a slower pace. Attention is now shifting to potential trade deals with other countries.

Trump says he will put 20% tariff on Vietnam, cooling tensions

It could spell relief for companies like Nike. Donald Trump says he will put 20% tariffs on Vietnam's exports to the US. That was lower than expected, meaning it may be good news for firms like the sportswear giant, which makes many of its goods in the country. Trump announced the news in a social media post on Wednesday, and it comes just days before his July 9th deadline for countries to strike trade deals. Vietnam had faced a 46% tariff from that day without the new agreement. However, details on the pact were in short supply. It wasn't immediately clear which products the 20% rate would apply to, or whether some goods could face lower or higher duties. The Vietnamese government offered no such details in a statement celebrating what it called a trade framework. But it said it would commit to providing preferential access for US goods in return, including for large-engined cars. Under the deal, trans-shipments from third countries through Vietnam will still face a 40% levy. That's aimed at products largely made in China, but then labelled as made in Vietnam. But one trade expert told Reuters that trans-shipping was an ill-defined term, subject to a lot of interpretation. Talks with Vietnam had been closely watched, with the country a fast-growing export powerhouse. Since 2018, its shipments to the US have nearly trebled, from less than $50 billion that year to $137 billion in 2024. By contrast, US exports to the country have risen only 30% over the same period. Attention now turns to other possible deals. Trump has said he's optimistic about agreement with India, but expressed doubts over any deal with Japan.

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Kyiv

Ukraine Invasion

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Gilimanuk

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Tehran

Iran Strikes

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Trump says he will put 20% tariff on Vietnam, cooling tensions

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