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- President Trump announces trade deal with Vietnam as major tariff deadline looms</p>
<p>Joey Garrison, USA TODAY July 3, 2025 at 12:19 AM</p>
<p>WASHINGTON ― President Donald Trump said he's secured a trade deal with Vietnam in what would be just the second agreement Trump has made with another country ahead of a critical July 9 deadline when U.S. tariffs could skyrocket.</p>
<p>Full details of the deal were not immediately clear, though Trump said the U.S. will levy 20% tariffs on imports from communist-controlled Vietnam and a 40% tariff on any transshipping of goods.</p>
<p>"In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade," Trump said in a July 2 post on Truth Social announcing the deal.</p>
<p>"In other words, they will 'OPEN THEIR MARKET TO THE UNITED STATES,' meaning that, we will be able to sell our product into Vietnam at ZERO Tariff," the president added.</p>
<p>More: Trump's tariffs are 'not going away' amid legal battles, White House says</p>
<p>Trump announced the deal after speaking with To Lam, general secretary of the Communist Party of Vietnam. Vietnamese state media said the U.S. and Vietnam reached an agreement on a joint statement for a "reciprocal, fair and balanced" trade deal.</p>
<p>During Trump's phone call with Lam, the Vietnamese leader asked the U.S. to recognize Vietnam as a market economy and remove restrictions on the exports of hi-tech products to Vietnam, Vietnam News Agency reported.</p>
<p>More: Trump says U.S. will end trade talks with Canada, could move deadline for other tariffs</p>
<p>Companies are currently paying a 10% universal U.S. tariff that Trump imposed on imports from Vietnam and some 180 other nations.</p>
<p>However, significantly larger reciprocal tariffs that Trump initially imposed in early April ‒ but soon after paused for 90 days amid market turbulence ‒ are set to go back into effect July 9. Trump could choose to extend the pause, but he's said he's not interested in that.</p>
<p>"No, I'm not," Trump told reporters July 1 when asked whether he plans to lengthen the pause. "I'm not thinking about the pause. I'll be writing letters to a lot of countries. And I think you're just starting to understand the process."</p>
<p>President Donald Trump speaks with the press on board Air Force One as he travels from Ochopee, Florida to Joint Base Andrews, Maryland on July 1, 2025.</p>
<p>When the Trump administration delayed the sweeping reciprocal tariffs to allow negotiations with other nations to continue, the White House economic team predicted deals would come at breakneck speed.</p>
<p>"We're going to run 90 deals in 90 days. It's possible," White House trade adviser Peter Navarro said at the time.</p>
<p>But the administration has struggled to make progress on that pledge.</p>
<p>Trump and United Kingdom Prime Minister Keri Starmer in May reached the first trade deal since Trump imposed the new tariffs ‒ but no others have followed.</p>
<p>More: Trump says trade deal with China is 'done;' aides tout 'framework' deal</p>
<p>In June, Trump announced the framework of a trade deal with China in which the U.S. would collect 55% tariffs on Chinese imports and China would collect 10% on U.S. imports. A month earlier, Trump and China agreed to slash triple-digit tariffs imposed on the other as the two parties continued talks.</p>
<p>The Trump administration had previously pointed to Japan as another opportunity to secure a trade deal. But Trump on Tuesday said a U.S.-Japan deal is unlikely.</p>
<p>"I doubt it with Japan ‒ they're very tough. You have to understand, they're spoiled," Trump told reporters.</p>
<p>Contributing: Reuters</p>
<p>Reach Joey Garrison on X @joeygarrison.</p>
<p>This article originally appeared on USA TODAY: Trump reaches trade deal with Vietnam as big tariff deadline looms</p>
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