00:00US President Donald Trump says a trade agreement with Vietnam is nearly complete.
00:05However, Trump chooses not to release details of the deal as he deemed it unnecessary.
00:12Earlier this month, Trump announced a preliminary deal to cut planned US tariffs on Vietnamese imports to 20%
00:19from the 46% rate threatened in April.
00:23He also stated that goods Washington deems illegally transship through Vietnam would face a 40% tariff.
00:31The agreement has yet to be finalized and many details remain unclear.
00:35This included how illegal transshipment is defined, which products face the 20% tariff
00:41and what share of value Vietnam must add to imported goods to avoid the higher levy.
00:47Vietnam has not confirmed the proposed tariff rates,
00:50instead describing the outcome as a joint statement outlining a trade framework.
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