“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
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.