The President of the United States posted this message on his account. He wants the Vietnamese to buy SUVs
The President of the United States posted this message on his account. He wants the Vietnamese to buy SUVs
"It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam"
Source: https://truthsocial.com/@realDonaldTrump/posts/114784170652465525
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I’m so confused? Why would Vietnam agree to a one sided “free” trade agreement.
Assuming trump has wildly oversimplified the details to sound better than they are.
For Vietnam a bad deal is probably better than no deal. But also, don't believe anything Trump says.
US goods will be cheaper in Vietnam compared to other countries in the region. US companies will be more likely to invest in Vietnam compared to other countries in the region. If 20% is low relative to where their regional competitors end up it's not a bad deal. I don't think a lot of US produced goods compete with local products so its not likely to cause domestic industry much problems.
Until he changes his mind next week.
Quite a few companies in China have been outsourcing to Vietnam to avoid tariffs during the first Trump administration. They didn't reverse course after the Biden administration increased tariffs further.
Even if Trump didn't touch the 25% special tariff on Chinese goods, 20% alone justifies doing so.
Some countries are caving to US on war. Some on trade. VN was threatened with 46% tariffs. The 40% transhipment rate is something easily avoided. I doubt VN will import more from US. VN making a deal can still provide best value apparel to US
I suspect they are “caving” a lot like Mexico and Canada “caved” earlier-the request made is already fulfilled.
He's got an extensive history of lying about (among so many things) what so-and-so told him in a private meeting, only to be called out and contradicted by that very person the following day.
Throw another one on the pile, most likely.