In a Truth Social post, the President announced that a trade deal has been reached with Vietnam. Under this agreement, goods from Vietnam will be assessed a 20% IEEPA/reciprocal tariff, up from the current 10% tariff but lower than the originally proposed 46% tariff. In return, Vietnam has agreed to give imported US goods a 0% tariff.

The announcement included a possible tariff of up to 40% for goods transshipped to the US, but it is not clear how or on what goods these tariffs will be charged. We hope that an executive order providing more details will be forthcoming. It is expected that more country-specific trade agreements will be announced in the coming days.

Best Regards,

Sam McClure, LCB

Director of Compliance & Customs Services