The new US-Vietnam trade deal framework:
Key Points:
- Tariffs on Vietnamese Exports: 20% tariff on all Vietnamese goods exported to the US
- Tariffs on Transshipped Goods: 40% tariff on goods transshipped through Vietnam
- Zero Tariffs for US Exports: Vietnam will grant the US "TOTAL ACCESS" to its markets with zero tariffs on American exports
Potential Impact:
- Increased US Exports: US products like SUVs and large-engine vehicles may see increased demand in Vietnam
- Trade Balance: Tariffs aim to address trade imbalances and promote fair trade practices
Reciprocal Benefits: The deal offers benefits to both countries, promoting economic cooperation and fair trade practices.
