President Trump announced a new trade deal with Vietnam, imposing a 20% tariff on Vietnamese imports while granting the US full market access. Vietnam will eliminate tariffs on US products. The deal also includes a 40% tariff on goods trans-shipped through Vietnam to counter Chinese products. While some businesses remain optimistic, concerns exist about the vagueness of 'trans-shipping' and its enforcement. The agreement follows Trump's earlier imposition and subsequent lowering of tariffs on various trading partners.

Prepared by Christopher Adams and reviewed by editorial team.