(EN) GTJASVN_Flash Note_VN US Reciprocal Tariff 2.7.2025

Update on Reciprocal Tariffs Announced on July 2, 2025

On the evening of July 2nd, U.S. President Donald Trump announced via Trust Media that, following highly positive discussions with General Secretary To Lam, the two countries have reached an agreement on tariffs as follows:

• Vietnam will be subject to a 20% tariff on goods exported to the U.S.
• This tariff may increase to 40% for transshipment goods.
• Vietnam will open its market to U.S. exports, imposing a 0% tariff.
• President Trump expressed his expectation that American automobiles—particularly SUVs—will have greater access to the Vietnamese market thanks to the reduced tariffs.