President Donald Trump announced that the United States has reached a trade deal with Vietnam that provides the U.S. with “total access to their markets for trade.”
“It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam,” Trump announced on Truth Social. “It will be a Great Deal of Cooperation between our two Countries. 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. In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade.”
“In other words, they will ‘OPEN THEIR MARKET TO THE UNITED STATES,’ meaning that, we will be able to sell our product into Vietnam at ZERO Tariff,” he stated. “It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam. Dealing with General Secretary To Lam, which I did personally, was an absolute pleasure. Thank you for your attention to this matter!”
Trump said in April that Vietnam sought to drop tariffs on U.S. goods.
“Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S.,” Trump wrote on Truth Social at the time. “I thanked him on behalf of our Country, and said I look forward to a meeting in the near future.”
A report from Vietnam’s government portal confirmed the call with Trump.
“General Secretary To Lam highly welcomed the exchange, during which the two leaders reiterated their wish to further bolster bilateral cooperation for the benefits of both countries, and contribute to peace, stability, and development in the region and the world,” the report said. “The two leaders also shared the view that the relationship between Viet Nam and the U.S. has been thriving in many areas.”
