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.

Against a ticking clock, President Donald Trump said Wednesday the United States has reached a trade agreement with Vietnam, pulling off the administration’s third significant deal ahead of a self-imposed July 9 deadline.

President Trump said he's secured a trade deal with Vietnam in what would be just the second agreement Trump has made with another country.