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Trump Finalizes Vietnam Tariff Deal and Prepares to Send Per-Country Letters

The administration is using individualized tariff threats ahead of a July 9 deadline to drive bilateral agreements.

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Blick in einer Fabrikhalle in Vietnam

Overview

  • President Trump plans to send letters in the coming days notifying each country of its new tariff rate effective July 9 if no deal is reached.
  • The US and Vietnam have agreed to impose a 20% duty on Vietnamese exports while granting US goods zero tariffs under the new pact.
  • European Union leaders, urged by Chancellor Friedrich Merz, are racing to secure a deal before July 9 to avoid up to 50% US duties.
  • Since imposing reciprocal duties in April, the US has collected about $95.6 billion in tariffs through June 24, roughly $600 million per day.
  • The 90-day suspension of most proposed tariffs—excluding those on Chinese imports—expires on July 9 and has spurred a rush of bilateral negotiations.