Trump announced that a trade agreement was reached with Vietnam, and the US will impose a 20% tariff on imports from Vietnam

The Zhitong Finance App learned that US President Trump announced on his social networking platform Truth Social on Wednesday that the US has reached a new trade agreement with Vietnam to levy 20% tariffs on all goods from Vietnam, but at the same time obtained Vietnam's “zero tariff” market access for US goods.

With the announcement of this agreement, there is less than a week left until the 90-day tariff suspension period in Trump's “equal tariff policy” is about to expire. If the suspension period ends, dozens of countries will face the risk of a sharp rise in tariffs on goods exported to the US.

According to Trump's statement, the agreement also stipulates that if the goods come from a third country and are re-exported to the US via Vietnam, a 40% tariff will be levied. The move is aimed at cracking down on the use of Vietnam to circumvent US trade barriers.

Trump wrote in a statement: “I am very honored to announce that after speaking with Vietnam's General Secretary Surin, I have just reached a trade agreement with the country. This will be a great cooperation between our two countries. The terms of the agreement are: Vietnam will pay 20% tariffs on all goods exported to the US, and 40% tariffs on goods transferred in transit. In return, Vietnam will give the US full access to its market for the first time, which means that US goods can be exported to Vietnam with zero tariffs.”

Trump specifically pointed out that American high-displacement models (such as SUVs) are performing well in the local market, and believes that these models have the potential to become bestsellers in the Vietnamese market. He also called the negotiations with General Secretary Su Lin “very enjoyable.”

After the news was announced, the stock price of the well-known sportswear brand Lululemon Athletica (LULU.US) crashed for a while because Vietnam was one of its most important apparel producers, but then the market quickly digested tariff news. As of press time, Lululemon Athletica had risen 0.75% to $246.955.