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How Trump’s Trade Deal With Vietnam Is Really About China
“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,” Trump said on his social network. “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.”
American goods will enter Vietnam duty-free in exchange for lower tariffs, the president says.
The estimated direct cost could be potentially managed through price hikes, layoffs, hiring freezes or lower profit margins.
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