President Trump announced a new trade deal with Vietnam, imposing 20-40% tariffs on Vietnamese goods while claiming Vietnam will grant the U.S. zero-tariff access to its markets. The deal follows Trump's earlier proposed 46% tariff and a temporary 10% rate. While Trump stated Vietnam would pay the tariffs, U.S. importers will bear the cost. The agreement aims to address the significant U.S. trade deficit with Vietnam, which reached over $123.5 billion in 2024. Details remain scarce, with the White House yet to release further information.

Prepared by Christopher Adams and reviewed by editorial team.