Trump: US reaches trade deal with Vietnam

US President Donald Trump announced that the United States has reached a trade deal with Vietnam. He said he would announce more details later.

Trump announced that Vietnam will pay a 20% tariff on all goods shipped to the US and a 40% tariff on any transportation taxes.

"The terms are that Vietnam will pay the United States a 20% tariff on all goods sent into our territory and a 40% tariff on any transportation tax. They will open up their relationship with the United States, which means we will be able to sell our products to Vietnam at zero tariff," Trump said.

According to Reuters sources, more than 10 trade deals are expected to be completed by the July 9 deadline that Washington has set for imposing tariffs.

But if the two deals the US has already concluded, with Britain and China, are any indication, then they are likely not to be comprehensive agreements that resolve fundamental issues, but only a limited range of issues and at a superficial level. /CNA

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