The US and Vietnam reached a trade agreement lowering tariffs on Vietnamese goods exported to the United States.
President Trump announced a 20% tariff rate, a significant reduction from the initially threatened 46%, easing trade tensions between the two nations.
The deal also addresses the issue of trans-shipment, imposing stricter tariffs on goods routed through third countries to avoid higher levies.
This agreement not only impacts tariffs but also enhances market access for American exporters, particularly in the automotive sector, signaling a step towards improved trade relations.
