The US trade agreement with Vietnam reportedly lowers tariffs but lacks detail, triggering sharp warnings from Chinese officials.

Trump said the U.S. will impose a 20% tariff on Vietnamese exports to the U.S. Goods transshipped through Vietnam will get 40%.

The recent tariff agreement has calmed bilateral tensions between Hanoi and Washington, but new trade tensions could be in store.

In announcing a new trade deal with Vietnam, President Donald Trump said (Opens in a new window), “It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam.” Never going to happen.

Vietnam and Pakistan reaffirmed their commitment to advancing new initiatives and deepening practical, sustainable trade relations at the fifth meeting of the Vietnam-Pakistan Joint Subcommittee on Trade in Hanoi on July 11.

In 2018, South Korea handed President Donald Trump the first trade victory of his administration. Under the agreement, new South Korean steel export restrictions were put in place and more U.S. automakers could export their cars to South Korea.