President Trump secures a trade deal with Vietnam

Vietnam Flag 1280x720.jpg

President Trump has announced that a trade deal between the U.S. and Vietnam has been secured.

The President called it a “great deal of cooperation” between the two countries. Vietnam has agreed to pay the United States 20 percent tariffs on any and all goods and a 40 percent tariff for trans-shipping. In return, Vietnam is giving the United States total access to its markets for trade with no tariffs.

U.S. Secretary of Commerce Howard Lutnick has called the deal a massive win for American businesses and huge for farmers. The deal comes after China has been working towards strengthening trade ties with Vietnam amid tariff disruptions.

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