On July 2, President Donald Trump finalized a new trade agreement with Vietnam, which he had personally negotiated with General Secretary Nguyen Xuan Phuc. The deal has a tariff of 20%, which will be assessed on all goods imported from Vietnam, and a 40% charge on any goods that might be considered transshipped goods.

Vietnam said negotiators are still working to finalize the details of the trade deal announced by US President Donald Trump, providing little clarity to businesses and investors beyond the tariff rates disclosed so far.