“It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam. It will be a Great Deal of Cooperation between our two Countries. The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping. 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,” the president said on Truth Social. He continued, “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. 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. Dealing with General Secretary To Lam, which I did personally, was an absolute pleasure.”
The market for SUV's will be HUGE. LOL . Crazy rush hour traffic in Saigon - Ho Chi Minh City, Vietnam
Canada/Mexico are easily the largest importers of US goods on the planet. Trump is going to fail on trade policy if he doesn't get things sorted out in NA. Some of the cult get confused by the rhetoric don't know the reality ( then again, neither does Trump ).
Consumers will pay most if not all of that tariff not Vietnam. Fundamentally a tariff is a sales tax. Meanwhile, Canada already gave the US total access to trade a long time ago. There are small exceptions like a cap on dairy to prevent dumping. That being said, we aren't going to give you that deal. We have a lot of leverage on trade with the US ( Canada is the largest importer from the US on the planet ). We have $120B in more tariffs ready to roll, probably July 10th the trade war starts. First shipment of LNG over to Asia today. That's product that used to be sold at a deep discount to the US. Most experts say Canadian nat gas companies are buys because of the changing dynamic. Might not be a good trade until late year though.
Where are the hundreds of deals ? And will they all involve American consumers paying an extra 20% on anything they import from an outside country ?
Vietnam will pay tariffs on good imported into U.S.? How fucking stupid are you? seriously....you should be fed and helped to the toilet.
So the geniuses here read that Americans will pay 20% import tariff tax on products from Vietnam while Vietnamese pledge to open the market to American goods that cannot compete with local Asian products ... and this is good? Americans will pay for this but don't let that get in the way.