President Donald Trump announced a finalized trade deal with Vietnam, which includes a 20% tariff on U.S. imports from Vietnam and a 40% tariff on transshipments. In exchange, Vietnam will grant the U.S. total access to its markets, allowing American products to enter without tariffs. The deal comes just before a deadline on previous tariffs and aims to enhance cooperation between the two nations. The U.S. trade deficit with Vietnam reached $123.5 billion in 2024, highlighting the significant economic relationship that this agreement seeks to reshape.

Source: https://www.stattimes.com/air-cargo/trump-announces-trade-deal-with-vietnam-40-levy-on-transshipments-1355741