Trump says US has reached trade deal with Vietnam

[WSHazel]

Source: Yahoo Finance

Trump said Vietnam's goods imported to the US would face a 20% tariff, lower than the 46% tariff he had levied as part of his "Liberation Day" plans but higher than the blanket 10% tariff currently in effect. He also said Vietnamese goods would face a higher 40% tariff "on any transshipping" — when goods shipped from Vietnam originate from another country, like China.

Read more: https://finance.yahoo.com/news/live/trump-tariffs-live-updates-trump-says-us-has-reached-trade-deal-with-vietnam-as-deadline-looms-for-deals-200619316.html

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This is as TACO as it gets. Vietnamese goods end up with a 20% tax that Americans will pay most of while Vietnam sets tariffs at 0%, mostly for stuff it isn't going to buy anyway. The only major U.S. exports to Vietnam are agricultural, and I believe the tariffs on those were already very low.

Trump and the Right have created a sales tax through these tariffs, which is regressive.

[DemMedic]

1. Trump Organization breaks ground on $1.5 billion golf club in Vietnam

HUNG YEN, Vietnam — Vietnam’s prime minister and President Donald Trump’s son Eric held a groundbreaking ceremony on Wednesday for a $1.5 billion luxury residential development with three 18-hole golf courses outside Hanoi, the Vietnamese capital.

The U.S. president’s Trump Organization family business and its local partners received approval for the project just last week from the Communist authorities in Vietnam, which is separately negotiating over tariffs with Washington.

Prime Minister Pham Minh Chinh said Eric Trump’s visit “motivated us to expedite this project,” and urged local authorities to provide maximum support and facilitate the completion of the 2,446-acre resort.

https://www.nbcnews.com/world/asia/trump-organization-breaks-ground-15-billion-golf-club-vietnam-rcna208169

[sinkingfeeling]

2. So, he doubled the Most-favored-nation tariff.

[Bernardo de La Paz]

3. Vietnam's US exports account for 30% of GDP, making it highly vulnerable to tariffs

$142 billion exports to US. I'm thinking there are a lot of trans-shipments included in that. Seems like a lot for a small country, when China exports a comparable amount. Vietnam has 100 million people, China has 14 times as many but exports only 3 to 4 times as much goods to the US as Vietnam does? Seems a bit odd.

https://www.reuters.com/markets/vietnams-us-exports-account-30-gdp-making-it-highly-vulnerable-tariffs-2025-02-25/

[WSHazel]

4. Maybe

Vietnamese exports to U.S. are 30% holding all things equal. But if the net revenue to the exporter declines if it exports to the U.S., it will at least explore other markets. We live in a global economy after all. Let's say an exporter of $100 widgets is sending 30% of its production to America. Now America places a 20% tariff on the widgets. If the exporter eats all of that tariff, then its net revenue is $80/widget. What if it can sell more widgets to Japan at $90/widget? Why would it sell any to America?

Let's say the exporter is willing to sell at $90 net revenue/widget to America. That would mean the price to the American purchaser is $112.50. So now the cost to the American purchaser has gone up $12.50/widget from where it was before the tariff.

As more transactions occur away from America, the use of the dollar as a reserve currency declines, and the dollar drops. So now, $1.00 may be worth what $0.90 was 6 months ago. (The Euro's appreciation has been significantly bigger than that). Now, for all things to be equal, the exporter needs to get $100/widget net revenue, which means the price to the American purchaser is $125/widget.

The result will be Americans paying more for less, and the bottom 99%'s taxes going up significantly through tariffs.

[wiggs]

5. How does this create manufacturing jobs in the US? Or is that just propaganda all along? nt

[twodogsbarking]

6. Vietnam translated to English means..........

We never know wtf is going on.

[Figarosmom]

7. I thought trump said he did that

Way back in like February. They were the first ones yo make a deal he said.


Lies.....every word

It's all a out his golf clubs...

People in America are losing interest in golf because one, it's a rich man's "sport" and two, it's just too hot outside to play where it's all open land with no nice shade trees. I bet it'll be the sa.e everywhere else.