President Trump announced via social media that the U.S. and Vietnam have reached an agreement under which tariffs will now be 20% on imports from Vietnam and 40% on goods shipped through Vietnam. In return, U.S. exports to Vietnam will face no tariffs, with particular benefit for large-engine vehicle manufacturers. Official details remain limited as we await further information from an executive order and U.S. Customs and Border Protection (CBP).

On April 9, Trump temporarily suspended reciprocal IEEPA tariffs on imports from most countries for 90 days, while maintaining a 10% baseline import tariff rate for nearly all U.S. trading partners, including Vietnam. Under the new agreement announced today, the tariff on goods from Vietnam to the U.S. will rise from 10% to 20%.

We will continue to monitor and provide updates as we receive further guidance from CBP. These regulations are subject to change so please reach out to your Mallory Alexander representative or our M-PACT consulting team with any additional questions.