Source: Supply Chain Dive
Date: 2nd July 2025

A new framework establishes a 20% tariff on Vietnamese imports while granting the U.S. unrestricted access to Vietnamese markets.

On July 2nd, the U.S. and Vietnam solidified the terms of a new trade deal, marking a significant shift in their economic relationship. Under the agreement, the U.S. will impose a 20% tariff on imports from Vietnam, while securing “total access” to the Vietnamese market with zero tariffs on American exports. Additionally, a 40% tariff will be introduced on transshipping, although further details remain undisclosed. This deal comes just before the expiration of a 90-day pause on country-specific duties set for July 9th.

The agreement is a pivotal move in the broader U.S. trade policy, with Vietnam joining the United Kingdom and China as the countries that have reached tariff accords with the U.S. This framework signals the ongoing trade adjustments as the U.S. works to redefine its economic ties with key international partners.

Vietnam remains an important trading partner for the U.S., accounting for nearly 3% of U.S. trade in 2024. Last year, Vietnam exported around $137 billion worth of goods to the U.S., while U.S. imports from Vietnam totaled approximately $13 billion. This deal is expected to reshape the dynamics of U.S.-Vietnam trade, promoting greater market access for both nations.