Trump Announces 20% Tariff on Vietnamese Goods

U.S. President Donald Trump has announced a 20% tariff on Vietnam’s exports, down from the 46% tariff he threatened in April.

Transcript

00:00U.S. President Donald Trump has imposed a 20% tariff on Vietnam's exports to the U.S.,

00:06down from his earlier threat of 46% in April.

00:10Trump announced the new rate in a social media post, adding that third-country shipments

00:15routed through Vietnam would face a 40% levy.

00:18That's to discourage the practice known as origin washing.

00:21Vietnam has also agreed to import U.S. products at a 0% tariff rate, with Hanoi reportedly

00:27committing to providing preferential market access for U.S. goods, including large-engine

00:32cars.

00:33Taiwanese manufacturing businesses have a large presence in Vietnam.

00:36Some say they'll now need to focus on how to navigate the impact of the new rules.

00:50Economists say these new tariffs could eventually drive Taiwanese businesses out of Vietnam.