The US will impose a 20% tariff on many Vietnamese exports, with trans-shipped goods facing 40%.
President Donald Trump announced on 2 July 2025 that the US will apply a 20% tariff on many Vietnamese exports instead of the previously proposed 46%.
Goods trans-shipped through Vietnam from third countries will face a 40% tariff. Vietnam will allow certain US products, such as large-engine vehicles, to enter with zero percent tariffs.
The Vietnamese government confirmed a joint statement on a trade framework but did not specify tariff rates. Details on the product list and enforcement of the trans-shipment provision will be discussed later. Vietnam also requested US recognition as a market economy and the removal of restrictions on high-tech exports.
The US is Vietnam’s largest export market. The agreement was announced days before a planned increase in tariffs on most imports by 9 July 2025.
