Miran: US, Vietnam deal ‘fantastic,' ‘extremely one-sided'
During an appearance on ABC News's 'This Week' on Sunday, Miran was asked about President Trump's progress on tariff deals as he rapidly approaches his July 9 deadline.
While he said he remains optimistic that he will secure 'a number of deals' this week, he praised the U.S. deal with Vietnam.
'The Vietnam deal was fantastic,' he said. 'It's extremely one-sided. We get to apply a significant tariff to Vietnamese exports. They're opening their markets to ours, you know, applying zero tariff to our exports. It's a fantastic deal for Americans.'
The deal sets the tariff rate on the country at 20 percent, with Vietnam giving the U.S. tariff-free access to its markets.
It also seeks to prevent third countries, such as China, from laundering their exports through Vietnam, imposing a 40 percent tariff on goods that originate from a country with a higher import tax rate and are shipped through Vietnam.
When pushed on whether any other deals would be on the table this week, Miran said countries are 'negotiating in good faith.'
'My expectation would be that countries that are negotiating in good faith and making the concessions that they need to, to get to a deal, but the deal is just not there yet because it needs more time,' he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 minutes ago
- Yahoo
Oil Slips as Trump Ramps Up Diplomatic Push to End Ukraine War
(Bloomberg) -- Oil slid as traders weighed the outlook for a ceasefire in Ukraine, with President Donald Trump pushing for a summit between Vladimir Putin and Volodymyr Zelenskiy after a series of high-level talks. A Photographer's Pipe Dream: Capturing New York's Vast Water System Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Festivals and Parades Are Canceled Amid US Immigration Anxiety Princeton Plans New Budget Cuts as Pressure From Trump Builds Brent dropped below $66 a barrel, remaining within the narrow range in which prices have been stuck for the last two weeks. Any eventual peace deal could pave the way for fewer restrictions on Russian crude exports, though Moscow has largely kept its oil flowing since the conflict began. Trump called the Russian president and urged him to start making plans for a one-on-one meeting with Zelenskiy after discussions with the Ukrainian leader on Monday at the White House. The talks between Trump and Zelenskiy appeared to represent a reversal of fortune for Kyiv just days after the US president met Putin in Alaska and said the onus to end the conflict rested with Ukraine. Oil is more than 10% lower this year due to concerns about the fallout from US trade policies and the outlook for oversupply as OPEC+ brings back barrels. Any impact from the talks on the Ukraine war is still uncertain. 'Crude may be in for a holding pattern,' said Vandana Hari, the founder of oil market analysis firm Vanda Insights in Singapore. 'The path to resolving the conflict has opened up but could be a long one.' Despite the diplomacy, attacks from both sides continue. Ukraine said it carried out a fresh strike on Russia's Druzhba oil pipeline system on Monday, halting a conduit that's important for crude supply to parts of central Europe. Ukraine said Russia hit a domestic oil refinery in the country overnight. While crude prices have been largely sandwiched in a range as a result of thinner summer trading volumes and ongoing efforts to end the war, other market gauges have had a busier August. On the US Gulf Coast, crude barrels are fetching some of their biggest premiums in months, in a sign that more supplies could be heading for export over the next few weeks. At the same time, the US benchmark is trading at its biggest discount relative to Brent since April, another factor that could boost overseas shipments. --With assistance from Charlie Zhu and Sarah Chen. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Americans Are Getting Priced Out of Homeownership at Record Rates Yosemite Employee Fired After Flying Trans Pride Flag ©2025 Bloomberg L.P. Sign in to access your portfolio
Boston Globe
19 minutes ago
- Boston Globe
Trump widens metal tariffs to target baby gear and motorcycles
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up 'We've had a lot of these 11th-hour implementations throughout 2025, this one in particular impacts every single client I have to an enormous degree,' Michigan-based customs broker Shannon Bryant said in an interview. Advertisement 'Earlier announcements at least had some in-transit exemptions so at least importers could make reasonable buying decisions,' said Bryant, president of trade compliance advisory service, Trade IQ. 'This one was unique in that way — it's very much a 'gotcha.'' The new list includes auto parts, chemicals, plastics and furniture components — demonstrating the reach of Trump's authority to use sectoral tariffs. That is separate from the executive power he invoked for his so-called reciprocal tariffs. Advertisement 'Basically, if it's shiny, metallic, or remotely related to steel or aluminum, it's probably on the list,' Brian Baldwin, a vice president of customs in the US at logistics giant Kuehne + Nagel International AG, wrote in a post on LinkedIn. 'This isn't just another tariff — it's a strategic shift in how steel and aluminum derivatives are regulated.' Compliance costs The difficulty with applying tariffs to derivative products lies in determining what percentage of an item is made from the targeted materials. Flexport, a digital freight forwarder, said in a blog post that 'for many brands, this means chasing suppliers for detailed data: aluminum weight, percentage of customs value, and country of cast/smelt.' The compliance burden, Flexport said, 'is significant.' This tranche of tariffs is also particularly expansive, including items such as motorcycles, cargo handling equipment, baby booster seats, tableware and personal care products that come in metal containers or packaging. Jason Miller, a professor of supply chain management at Michigan State University, conservatively estimates that the metals tariffs now cover about $328 billion worth of goods, based on 2024 import data. That's six times greater than in 2018 and a big jump from the $191 billion worth of goods covered prior to the change, he said in an email to Bloomberg News. Broker's plea Bryant, whose clients include cosmetics and commercial cookware importers, sent a letter to her elected officials in Washington on Monday warning that the complexity of overlapping tariffs is becoming unworkable even for professionals. 'For small importers,' she wrote, 'it's impossible.' 'I'm trying to think of a client that's not impacted,' Bryant said. 'These are American companies that employ American people that are being ambushed by their own government.' Advertisement Trump first imposed steel and aluminum tariffs in 2018 with the goal of boosting US output by making it more expensive for Americans to buy foreign material. But several major suppliers including Canada, Mexico and the European Union were ultimately exempted, and US industries have said they're still struggling to compete with imports. Big steel applauds In June, Trump fulfilled a campaign promise by doubling the levy on steel and aluminum to 50% and also sought feedback from industry on how to broaden it further. Lourenco Goncalves, chief executive officer of US steelmaker Cleveland-Cliffs Inc., applauded the expanded tariff list in a statement on Monday, thanking the Trump administration for 'taking decisive and concrete action that will deter tariff circumvention occurring in plain sight with stainless and electrical steel derivative products.' There's very likely more to come. At the end of July, the Trump administration imposed a 50% duty on semi-finished copper imports valued at more than $15 billion and ordered officials to come up with a plan to slap tariffs on an array of other copper-intensive goods. 'This isn't over,' said Pete Mento, DSV's global customs director, in a social media post on Monday. 'The next list will surely be for copper and I expect that to be equally as miserable.' Reference Shelf: Chaotic Tariff Rollout Leaves US Importers Short on Details (1) US INSIGHT: Importers Still Cover Most Tariffs Despite Revisions Why Trump Doubled Down on Steel and Aluminum Tariffs: QuickTake
Axios
an hour ago
- Axios
Gen Z is facing a job market double-whammy
New graduates are having an especially tough time landing a job right now: The share of unemployed Americans that are new to the workforce is at a 37-year high. Why it matters: It's a sign of how reluctant companies have been to hire amid ongoing economic uncertainty over tariffs and policy. By the numbers: 13.4% of unemployed Americans in July were "new labor force entrants," those looking for jobs with no prior work experience, including new high school and college graduates. It's the highest number since 1988, as the Baby Boomer generation was flooding the job market. That's from a new analysis of government data from the Federal Reserve Bank of Richmond. The big picture: Folks with jobs are hanging on to them at the moment; unemployment is at a relatively low 4.2%. But those without work are having a hard time — facing one of the toughest job markets in years. The jobless rate for college degree holder s, age 22-27, has been hovering at a rate last seen during the 2010s (excluding 2020 data). Still, they are at a clear advantage among their peers without degrees. Overall the unemployment rate for everyone age 22-27 was 7.4% in the second quarter of the year. Zoom in: Another sign of how hard it's become to get a job? The share of unemployed workers who've been without a job for 27 weeks or longer is up sharply, the Richmond Fed report says. Such long-term unemployed people make up 25.2% of all unemployed workers — the highest since February 2022. The bottom line: The frozen hiring market is a "double-whammy" for Gen Z, says John O'Trakoun, an economist at the Richmond Fed who did the research.
