President Trump announced a new trade agreement with Vietnam, featuring a 20% tariff on Vietnamese exports to the US and a 40% tariff on transshipped goods. In exchange, Vietnam reportedly will grant the US total market access. The deal's details remain unclear, with Vietnam referring to it as a framework and the White House yet to release official information. The agreement comes before a July 9th deadline for higher tariffs and follows a surge in US imports from Vietnam.

Prepared by Christopher Adams and reviewed by editorial team.