US Reaches Vietnam Trade Deal With 20% Import Tariff, Trump Says

President Donald Trump said he had reached a trade deal with Vietnam following weeks of intense diplomacy between the nations and ahead of a deadline next week that would have seen higher tariffs imposed on the country’s imports.

A 20% tariff will be placed on Vietnamese exports to the US, with a 40% levy on any goods deemed to be transshipped through the country, Trump said in a social-media post on Wednesday. Trump said that Vietnam had agreed to drop all levies on US imports.

“In other words, they will “OPEN THEIR MARKET TO THE UNITED STATES,” meaning that, we ...