With the July 9 deadline looming, President Donald Trump announced a landmark tariff deal with Vietnam aimed at rebalancing one of America’s fastest-growing trade partnerships. Under the agreement, Vietnam will face a 20% tariff on its exports to the U.S. and a 40% tariff on "transshipping" — goods routed through Vietnam from other nations.
"If another country sells their content through products exported by Vietnam to us, they'll get hit with a 40-percent tariff," said U.S. Commerce Secretary Howard Lutnick, clarifying that the higher rate targets any attempt to sidestep duties via intermediary shipments.
In a concession for U.S. exporters, Trump announced zero-percent tariffs on American products entering the Vietnamese market. "Vietnam will do something that they have never done before: give the United States of America TOTAL ACCESS to their Markets for Trade," he wrote on Truth Social, promising new opportunities for U.S. businesses.
Earlier this year, Trump imposed a 46% duty on Vietnamese imports under his "reciprocal tariffs" policy, later reduced to 10% to allow negotiations. The fresh deal marks a strategic pivot as both sides work to strengthen mutual market access.
Data from the U.S. Census Bureau shows Vietnam exported nearly $137 billion in goods to the U.S. in 2024, earning a spot as America’s sixth-largest supplier. Key exports include textiles and sportswear, with major brands like Nike, Gap and Lululemon operating factories across Vietnam.
As this agreement rolls out, it could reshape global supply chains, impact consumer prices and create fresh avenues for entrepreneurs, investors and digital nomads exploring emerging markets. Young global citizens, in particular, should watch how these shifts unlock new trade and travel opportunities in Southeast Asia.
Reference(s):
cgtn.com
