The U.S. and Vietnam have reached an agreement on a trade deal, as announced by President Trump. Under the deal, the U.S. will impose a 20% tariff on Vietnamese imports while gaining total access to Vietnam’s markets, allowing U.S. products to enter without a tariff. This agreement comes just before a 90-day pause on reciprocal duties is set to expire on July 9, which previously included a 46% tariff on Vietnamese goods. Vietnam is now one of three countries to finalize tariff agreements with the U.S., accounting for nearly 3% of U.S. trade in 2024.

Source: https://www.supplychaindive.com/news/us-vietnam-agree-trade-deal-framework-tariffs/752219/