President Trump on Wednesday announced his administration has reached a trade deal with Vietnam, days before the pause on reciprocal tariffs is set to expire.
“I just made a Trade Deal with Vietnam,” Trump wrote in a Truth Social post. In a subsequent post he said, “The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping.”
Vietnam exports goods like apparel, including clothing and footwear, and electrical machinery to the U.S. The total in U.S. goods imports from Vietnam was over $136 billion in 2024 while the U.S. goods exports to Vietnam was just over $13 billion, according to the U.S. Trade Representative. The U.S. goods trade deficit with Vietnam was over $123 billion.
The 90-day pause on Trump’s “reciprocal tariffs” expires on July 9, and the administration has been working with more than a dozen key trading partners on frameworks of trade agreements ahead of the deadline.
The deal with Vietnam would mark the third such agreement Trump has arranged with another country over the last three months. It was not immediately clear if the agreement had been finalized.
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