Overview

• Under the framework, Vietnamese exports to the US face a 20% tariff while transshipments incur a 40% levy to deter Chinese goods from using Vietnam as a conduit.
• Vietnam will grant zero-tariff access to US products for the first time, opening its market fully to American exporters.
• The agreement holds off the previously announced 46% reciprocal tariff until negotiators hammer out a comprehensive pact by the July 9 deadline.
• President Trump spoke directly with General Secretary To Lam to finalize the initial framework that follows recent bilateral deals with the UK, China and India.
• The preliminary accord underscores the administration’s strategic shift toward one-on-one trade realignment under its reciprocal tariff policy.