Trump: Vietnam will pay a 20% tariff on exports to the U.S. and fully open its market to the United States

ChainCatcher news, according to Jinshi reports, U.S. President Trump stated: I have just reached a trade agreement with Vietnam. This will be a significant cooperation between our two countries. The terms stipulate that Vietnam will pay a 20% tariff to the United States on any goods entering our territory, and a 40% tariff on any transshipped goods.

In return, Vietnam will do something unprecedented, which is to fully open its market to trade with the United States. In other words, they will "open their market to the United States," meaning we will be able to sell our products to Vietnam at zero tariffs. In my opinion, SUVs perform very well in the U.S. market, and they will be a great addition to the various product lines in the Vietnamese market.