Trump Announces Trade Deal With Vietnam, Imposes 20% Tariff on Imports, Secures U.S. Tariff-Free Market Access

President Donald Trump announced a trade deal with Vietnam on Wednesday that imposes a 20% tariff on Vietnamese imports to the U.S., according to CNBC. In a post on Truth Social, the president stated that the deal will provide the U.S. with tariff-free access to Vietnam’s markets. Vietnam also agreed to impose a 40% tariff on transshipped goods from other countries bound for the U.S. It was unclear when the deal would take effect or if it was officially signed, and White House aides declined to confirm Trump’s stated tariff rates. The agreement comes just before a 90-day pause on Trump’s reciprocal tariff regime is set to expire, potentially reinstating higher duties on imports from dozens of countries. The S&P 500 edged up slightly on the news.