The trade agreement has been reached between the US and Vietnam. Under this, 20% tariffs have been imposed on many items from Vietnam to US exports. Earlier in April this year, US President Donald Trump announced a 46% recipe for Vietnam. But then on 9 April, many countries including Vietnam were reduced to 10 percent for 90 days. This relief of 90 days ends on 9 July.
Now after the conversation, the American tariff on Vietnam has been kept low. Trump and Vietnam’s government media has given information about the trade agreement between the two countries. Trump said that the goods coming from Vietnam to America will be charged 20%. At the same time, 40% tariff will be taken in terms of trans-appearance from any other country. It is not yet clear how the trans-appearance provision will be implemented.
Zero tariff on American goods
In understanding, it has also been decided that Vietnam will give the US total access to its market. Will open its market to America in simple language. Vietnam will not have any tariff on exports from America. Vietnam wanted the United States to recognize Vietnam as a market economy. Also, remove the country from exporting high -tech products.
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How much export in Vietnam and America
According to Reuters, data from the Census Bureau shows that Vietnam’s export to the US in 2018 was $ 50 billion. Since then exports increased by about 3 times to $ 137 billion in 2024. At the same time, exports from the US to Vietnam have increased by only 30% during this period. In 2018, the export figure from the US to Vietnam was less than $ 10 billion. In 2024 it was slightly more than $ 13 billion. The Trump administration has indicated that a trade deal with India is also going to be held soon.
