U.S. President Donald Trump announced a new trade agreement with Vietnam, where Vietnam will pay a 20% tariff on U.S. imports and a 40% tariff on re-exports. In exchange, Vietnam grants the U.S. full market access, allowing American goods to enter tariff-free. The deal, led by Vietnam’s Communist Party Chief To Lam, follows a previous 46% tariff threat, which was suspended for 90 days.
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