Trump Announces Near-Completion of Vietnam Trade Deal

U.S. President Donald Trump announced Tuesday that a trade agreement with Vietnam is almost finalized, bringing potential changes to tariff regulations.

During a press briefing, Trump indicated he could provide details but chose not to, suggesting that it might not be necessary at this stage.

This development follows a preliminary deal made earlier this month with Vietnam's government, which proposes reducing planned U.S. tariffs on Vietnamese imports from a potential 46% to 20%. Nevertheless, products considered illegally transshipped through Vietnam will continue to face a hefty 40% duty.

(With inputs from agencies.)