President Donald Trump on Wednesday announced a trade deal with Vietnam under which U.S. goods may enter the country duty-free, the Associated Press reports. In contrast, Vietnamese exports to the United States would face a 20% levy.
Trump previously announced a 46% tax on Vietnamese goods in April. It was among several so-called reciprocal tariffs concerning dozens of countries with which the U.S. runs trade deficits. The president suspended those tariffs for 90 days to allow for negotiations, like the one with Vietnam, but that pause expires Tuesday.
The Trump administration has so far reached an official trade agreement only with the United Kingdom.
