Vietnam Makes Major Trade Shift: Willing to Drop All Tariffs on U.S. Goods
U.S. Jobs Report Also Surprises with Strong Gains in March
In a significant development on the global trade front, Vietnam has expressed its willingness to eliminate all tariffs on American goods, according to former President Donald Trump.
The announcement came following a phone call with Vietnamese leader To Lam, General Secretary of the Communist Party of Vietnam.
“Just had a very productive call with To Lam…
Vietnam wants to cut their tariffs down to ZERO if an agreement with the U.S. can be made,” Trump posted on social media.
“I thanked him on behalf of our Country and said I look forward to a meeting in the near future.”
The news had immediate effects on the stock market.
Companies with major manufacturing operations in Vietnam, including Nike, saw notable gains.
Nike’s stock jumped more than 4% following the announcement.
This came shortly after the U.S. imposed 46% tariffs on Vietnamese imports earlier in the week.
According to the Wall Street Journal, the two leaders discussed easing trade tensions, and the potential meeting could open new doors for both economies.
