United States President Donald Trump said on Wednesday that he signed a 20% rates on all Vietnamese products exported to the US and 40% over re-exports in the country.
On the other hand, according to him, Vietnam would open its market for American products, with total exemption from tariffs.
“The terms are as follows: Vietnam will pay the US a 20% rate on all goods sent to our territory, and a 40% tariff over any transportation,” Trump wrote on the Truth Social network. “In return, Vietnam will do something it has never done before: it will grant the United States full access to its market for commercial purposes.”
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According to Trump, “they will ‘open their market to the United States’, which means we can sell our products in Vietnam with zero fare.”
Trump also took the opportunity to promote the American auto industry. “In my opinion, the SUV, or, as it is sometimes called, a large engine vehicle, which is so successful in the United States, will be a wonderful addition to the various product lines available in Vietnam,” he wrote.
