<h1>US President announces trade deal with Vietnam: duty-free American goods, 20% tariffs on Vietnamese exports</h1> The US President announced a trade agreement with Vietnam allowing American goods duty-free entry while imposing 20% tariffs on Vietnamese exports to the US. The deal also includes 40% taxes on goods from other countries transshipping through Vietnam, targeting Chinese products avoiding US tariffs. This follows earlier 46% reciprocal tariffs announced in April, which were suspended for negotiations. The US had a $122 billion trade deficit with Vietnam last year, the third-largest after China and Mexico. The agreement represents one of few successful negotiations under the administration's reciprocal tariff strategy.