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.
Related Stories
RFD-TV Markets Expert Tony St. James breaks down the USDA’s newly unveiled plan to rebuild the US beef herd and the industry’s spectrum of responses to it.
American Farm Bureau Federation (AFBF) economist Bernt Nelson provides an updated outlook on the current U.S. cattle market.
Sen. Roger Marshall: ‘I’m Begging Everyone to Take a Breath’ on High Beef Prices, New Import Markets
Sen. Roger Marshall explains which types of beef are imported into the United States, how there’s room for new imports, and logical reasons for current high prices.
Record Australian exports and rising U.S. imports reflect continued tight domestic cattle supplies — a reminder that herd recovery remains key to balancing future beef prices.
Australia’s expanding harvest and global oversupply are keeping wheat and barley prices capped, though canola markets may hold firmer on shifting oilseed demand.
