President Donald Trump unveiled a trade agreement with Vietnam, decreasing tariffs on imports from 46% to 20%. Vietnam will grant duty-free access to American goods. Additionally, a 40% tariff will be applied to goods shipped from other countries through Vietnam, specifically targeting transshipments from China. Vietnam has leveraged supply-chain shifts amid US-China trade tensions, attracting multinationals to relocate manufacturing. The US had a $123.5 billion trade deficit with Vietnam last year. This move signals a potential model for future trade agreements in the region.
President Donald Trump announced a trade deal with Vietnam that reduces tariffs on imports from Vietnam to 20%. However, a 40% tariff will be imposed on goods transshipped through Vietnam.
The deal allows American goods to enter Vietnam duty-free, indicating a strategic move to benefit from supply chain shifts due to US-China trade tensions.
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