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“Vietnam” reached a trade deal with the United States, resulting in a tariff rate of 20% from the previous rate of 46%, but must allow the United States to ship goods into Vietnam without paying customs duties.
On July 3, 2025, “Donald Trump”, President of the United States, revealed via Truth Social that he had successfully reached a trade agreement with Vietnam after talking with “To Lam”, General Secretary of the Communist Party of Vietnam. This agreement is a great cooperation between the two countries, with the condition that Vietnam will pay a 20% tariff to the United States for all goods sent to the United States. Any Vietnamese goods transported through a third country will face a 40% tariff.
But under the deal, Vietnam will open its market to US goods, with the US able to export goods to Vietnam without paying any customs duties. While the 20% tariff is relatively high, it is a significant reduction from the 46% tariff Trump announced in April on Vietnamese imports from global trading partners.
The US leader’s senior trade adviser has previously called Vietnam a Chinese colony, arguing that more than a third of Vietnamese goods exported to the US are ‘re-labeled’ Chinese goods or goods from China that are sent through Vietnam.
The deal makes Vietnam the first ASEAN country to reach a trade deal with the United States before the July 9 deadline. In April, Trump announced retaliatory tariffs on more than 180 countries and territories worldwide before easing the tariffs to a base rate of 10% for 90 days, giving countries time to negotiate with the US government to find a solution to what the US sees as unfair treatment by its trading partners.
A few days ago, the US leader told Fox News that he did not plan to extend the grace period for the tariffs. The US government will send letters to countries telling them how much they will face before the deadline, unless they reach an agreement with the US government.
Trump threatens to impose 35% tariffs on Japan if no deal is reached by deadline
Meanwhile, Japan faces a different situation than Vietnam, as the US leader threatened to impose import tariffs of 30% or 35% on Japanese goods if no agreement is reached before next week’s deadline, a much higher rate than the 24% the US leader previously announced.
The US leader had previously expressed doubts and doubts about whether an agreement could be reached with Japan after criticising Japan for refusing to import US rice while it was facing a severe rice shortage. He said that the US would send a letter to Japan and that it still wanted Japan to be a trading partner with the US for many years to come.
The US leader’s claim contradicts data from the US Census Bureau, which shows that Japan bought more than $298 million worth of US rice in 2024, and that between January and April 2025, Japan bought $114 million worth of rice from the US. Japan has also declined to comment on the US leader’s threat.
Japan currently pays a 10% tariff on most imports to the US, like other countries. It also has a 25% tariff on cars and auto parts, while steel and Aluminum are subject to a 50% tariff.
US close to trade deal with India
Another market that the US is focusing on is India. The US Treasury Secretary told Fox News that the US and India are close to reaching a trade deal, and that the US is very close to India.
The move is in line with the US leader’s earlier hint that the US could reach a trade deal with India, potentially paving the way for a deal that would delay the 26% import tariffs Trump announced on India in April.
India is among more than a dozen countries in serious talks with the Trump administration to avoid a spike in tariffs set to hit July 9, with the country expected to face a new tariff of 27% from the current 10%.
Read more at: https://www.thaipbs.or.th/news/content/353857