Washington (AP)-President Donald Trump on Wednesday announced a trade agreement with Vietnam that would allow us to enter duty-free in goods country.
The United States will face Vietnamese exports, by contrast, 20% levy.
On his true social platform, Trump declared the agreement “a big deal of cooperation between our two countries”.
In April, Trump announced 46% tax on Vietnamese imports-one of his so-called mutual tariffs targeting dozens of countries with which the United States runs trade deficit. Trump immediately suspended the mutual tariff for 90 days to allow for the same interaction with Vietnam. The break ends on Tuesday, but so far the Trump administration has reached a trade agreement with only one of those countries – the United Kingdom. (Trump has also reached “Framework” Agreement with China In a separate business dispute.)
“Vietnam is very keen to get out of it,” said Mary Lovely, Senior Fellow of Peterson Institute for International Economics. “It is forcing a small country to eat it, basically. We can do this. These are big countries that keep everyone’s eyes on.” He suspects that Trump will be able to implement such an olist agreement on large business partners such as the European Union and Japan.
The United States had a $ 122 billion trade deficit with Vietnam last year. This was the third largest American trade gap-the difference between the car and services that buy from other countries and sell them-behind people with China and Mexico.
In addition to 20% tariff, Trump said that the US would impose 40% tax on “transmission” – goods from another country that stops on the way to the United States in Vietnam. Washington complains that Chinese goods are dodging the high American tariffs by transferring through Vietnam.
1 February Study in Harvard Business Review It was found that “there was much less reunion than the trust.”
In May, Vietnam allowed A local partner to create a $ 1.5 billion project by Trump organization and a large -scale golf resort complex near Hanoi, a local partner, covers a area size of approximately 336 football areas.
Vietnam was the beneficiary of American efforts to combat China’s influence. Companies looking at their supply chains away from China moved to Vietnam.
In 2023, it became the only country to host both the President Joe Biden and Chinese leader Xi Jinping on a state tour. That year, the United States upgraded Vietnam to its supreme diplomatic position – which is loving it with China and Russia.
,
Anirudh Ghosal reported from Hanoi, Vietnam.
Paul Visman and Anirudh Gosal, Associated Press