Washington, July 3 (V7N) — The United States has struck a new trade agreement with Vietnam, under which a 20 percent tariff will apply to goods imported from Vietnam, replacing the previously planned 46 percent tariff. US President Donald Trump confirmed the development in a post on Truth Social.

According to a BBC report, the new deal was finalized at the last minute, averting the higher tariffs that were set to take effect next week under Trump’s retaliatory trade policy announced in April. In return, Vietnam will not impose any new retaliatory tariffs on American products.

The agreement also introduces a 40 percent tariff on transshipped goods — targeting goods from other countries that might try to enter the US market via Vietnam to avoid direct tariffs.

Trump hailed the deal as a major success, claiming it gives Washington “full access to Vietnam’s trade market for the first time.” Analysts noted this is the third major trade agreement secured by the Trump administration this year.

Vietnam has become a key manufacturing hub for global brands such as Nike, Apple, Gap, and Lululemon, especially after companies shifted production from China during Trump’s first term. The initial announcement of the deal spurred gains in the stock prices of firms operating in Vietnam, though the confirmation of a 20 percent tariff led to a decline.

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