8 hours agoTrump announces trade deal reached Vietnam
Periskopi(a year ago)
(a year ago)US President Donald Trump said Wednesday that the US will set 20% tariffs for imports from Vietnam under a new trade agreement reached during last minute negotiations. A much higher tax of 46% would go into effect next week as part of the global tariff plan [...]
A much higher tax of 46% would go into effect next week as part of the global tariff plan Trump announced in April. Tens of other economies, including the European Union and Japan, are still trying to make their own deals with the US before the planned increases.
Under the deal, Vietnam will not set tariffs for American products, Trump said in a post on social networks.
The tariffs usually raise prices charged to buyers, which in turn may lower demand.
“The Great Co-operation Agreement”, as Trump called it, will also impose a higher fee of 40% for goods passing through Vietnam in a process known as “transport”.
“Vietname will do something he has never done before, give to the United States of America COMES in their trades on Exchange” posted Trump on his Social Truth platform.
Initially, Trump imposed high taxes on trade partners worldwide in April, citing the lack of “reciprocity”, but then announced a pause where all taxes were lowered to 10%.
Many countries later addressed the US to negotiate trade agreements, according to the White House.
Since April, Washington has so far announced only a pact with Britain and an agreement to temporarily cut revenge taxes with China. /Periscope/
