Vietnam agrees with minimum 20% tariff; US duty is free
Washington: President Donald Trump on Wednesday announced a trade agreement with Vietnam that would allow us to enter the duty-free in the goods country. The United States will face Vietnamese exports, by contrast, 20% levy. On his true social platform, Trump declared the treaty “a great deal of cooperation between our two countries”.In a government’s statement, Vietnam confirmed that the interaction teams came on an agreement to address the mutual tariff issue, but did not expand any tariff conditions. Trump confirmed that the US would significantly reduce mutual taxes for many Vietnamese export goods and will continue to collaborate with Vietnam in solving difficulties affecting bilateral trade relations, especially in areas preferred by both sides, “the statement said.In April, Trump announced a 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 a “framework” agreement with China in a separate trade dispute.)The United States had a $ 122 billion trade deficit with Vietnam last year. This was the third largest American trade gap – which buys the difference between goods and services from other countries and sells 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. In May, Vietnam approved a $ 1.5 billion project by the Trump organization and covered a local partner to build a large -scale golf resort complex near his capital Hanoi, covering a area size of approximately 336 football areas.
