Kuala lumpur: President Donald Trump announced a new trade deal with Vietnam after speaking to Communist Party General Secretary To Lam, Anadolu Ajansi (AA) reported. Trump stated that Vietnam agreed to implement a 20 percent tariff on all goods sent to the US and a 40 percent tariff on transshipped goods.

According to BERNAMA News Agency, in return, the US will gain full access to Vietnamese markets with zero tariffs on American products. Trump also mentioned that US-made SUVs, or large engine vehicles, are expected to be well-received in Vietnam's market.