Trump: Vietnam Will Pay a 20% Tariff on Exports to the US, Opening Market Fully to America

BlockBeats News, July 2nd, U.S. President Trump stated: "I have just reached a trade agreement with Vietnam. This will involve substantial cooperation between our two countries. The terms specify that Vietnam will pay a 20% tariff to the United States for 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,' which means we will be able to sell our products to Vietnam with zero tariffs. In my view, SUVs have performed very well in the U.S. market, and it will be a great addition to the various product lines in the Vietnamese market." (FXStreet)