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Trump's planetary tariff deadline looms
Washington — President Trump announced Wednesday that the U.S. has reached a commercialized woody with Vietnam, days earlier the July 9 deadline erstwhile the intermission connected his alleged reciprocal tariffs volition expire.
Under the presumption of the agreement, Mr. Trump said the U.S. would levy 20% tariffs connected goods imported to the U.S. from Vietnam, and a 40% tariff connected "any transshipping." The president said Vietnam would "'OPEN THEIR MARKET TO THE UNITED STATES,' meaning that, we volition beryllium capable to merchantability our merchandise into Vietnam astatine ZERO Tariff."
Mr. Trump announced the statement connected Truth Social aft speaking with To Lam, the wide caput of the Communist Party of Vietnam. The remaining details of the statement person not yet been revealed, and Vietnam has not confirmed the woody announced by the president.
Foreign countries person until July 9 to scope a woody connected commercialized and tariffs with the U.S. earlier the president's tariffs spell into effect again. In aboriginal April, helium announced tariffs connected imports from astir 90 nations that are supra a 10% across-the-board taxation applied to each imports to the U.S. Mr. Trump, describing the announcement arsenic "Liberation Day," said the new taxes were needed to erase a commercialized shortage betwixt the U.S. and different countries, ranging from China to the European Union.
A week later, helium paused the tariffs, admitting that helium did truthful due to the fact that helium saw the enslaved markets "were getting a small queasy."
On Tuesday, Mr. Trump told reporters helium isn't funny successful extending the pause.
Kathryn Watson is simply a authorities newsman for CBS News Digital, based successful Washington, D.C.
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