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Toronto Sun
02-07-2025
- Business
- Toronto Sun
Trump says Vietnam to face 20% tariff under 'great' deal
Published Jul 02, 2025 • Last updated 4 minutes ago • 3 minute read Nhac NGUYEN/AFP Photo by Nhac NGUYEN / AFP WASHINGTON — President Donald Trump announced Wednesday that he had struck a trade deal with Vietnam under which the country would face a minimum 20% tariff and open its market to U.S. products. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The deal comes less than a week before Trump's self-imposed July 9 deadline for steeper tariffs on U.S. trade partners to take effect if agreements are not reached. Shares in clothing companies and sport equipment manufacturers — which have a large footprint in Vietnam — rose on the news, but later declined sharply after the president released details including the continued tariffs, which were higher than expected. If confirmed, the terms of the agreement will significantly increase the price of shoes and clothing that Vietnam exports to the United States, but Hanoi escapes the threat of the more severe 46% tariff threatened by Trump in April. 'It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam,' Trump wrote on his Truth Social platform. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. He said that under the 'Great Deal of Cooperation,' imports of Vietnamese goods will face a 20% U.S. tariff, while goods that pass through Vietnam to circumvent steeper trade barriers — so-called 'transshipping' — will see a 40% tariff. 'Total Access' Trump's trade advisor Peter Navarro has called Vietnam a 'colony of China,' saying that one third of Vietnamese products are in fact relabelled Chinese goods. U.S. President Donald Trump says Vietnam is taking the unprecedented step of giving exports from the United States 'total access' to the Asian country's markets. ANDREW CABALLERO-REYNOLDS/AFP Photo by ANDREW CABALLERO-REYNOLDS / AFP Trump said that 'in return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade,' he said. 'In other words, they will 'OPEN THEIR MARKET TO THE UNITED STATES,' meaning that we will be able to sell our product into Vietnam at ZERO Tariff.' This advertisement has not loaded yet, but your article continues below. The president said he believed U.S.-made SUVs, 'which do so well in the United States, will be a wonderful addition to the various product lines within Vietnam.' In a government statement, Vietnam confirmed that negotiating teams had come to an agreement to address the reciprocal tariff issue, but did not detail any tariff terms. Trump 'affirmed that the U.S. will significantly reduce reciprocal taxes for many Vietnamese export goods and will continue to cooperate with Vietnam in resolving difficulties affecting bilateral trade relations, especially in areas prioritized by both sides,' the statement said. Trump's announcement comes a week before the threatened U.S. reimposition of steep tariffs on dozens of economies, including the European Union and Japan, many of which are still scrambling to reach deals that would protect them from the measures. This advertisement has not loaded yet, but your article continues below. Those higher tariffs are part of a package Trump initially imposed in April, citing a lack of 'reciprocity' in trading relationships, before announcing a temporary lowering to 10%. Without a deal, Vietnam's 'reciprocal tariff' would have risen from the baseline 10% to 46%. Since April, Washington had so far only announced a pact with Britain and a deal to temporarily lower retaliatory duties with China. Both involve the United States maintaining some of Trump's tariffs on the trading partners. The terms of the UK deal are more narrowly focused than those announced by Trump with Vietnam, with London and Washington agreeing to cut U.S. tariffs on cars from 27.5% to 10%, with a limit of 100,000 vehicles a year. It also fully eliminated the 10% tariff on goods such as engines and aircraft parts. In return, Britain agreed to further open its market to U.S. ethanol and beef. RECOMMENDED VIDEO Ontario Toronto Maple Leafs Toronto Maple Leafs Ontario Celebrity
eNCA
25-05-2025
- Politics
- eNCA
'It's in our blood': How Vietnam adopted the Latin alphabet
HANOI - At a calligraphy class in Hanoi, Hoang Thi Thanh Huyen slides her brush across the page to form the letters and tonal marks of Vietnam's unique modern script, in part a legacy of French colonial rule. The history of romanised Vietnamese, or "Quoc Ngu", links the arrival of the first Christian missionaries, colonisation by the French and the rise to power of the Communist Party. It is now reflected in the country's "bamboo diplomacy" approach of seeking strength through flexibility, or looking to stay on good terms with the world's major powers. A month after China's Xi Jinping visited, French President Emmanuel Macron will arrive on Sunday. Huyen, 35, takes weekly calligraphy classes alongside six others at her teacher's tiny home as "a way to relax after work". "When I do calligraphy, I feel like I'm talking to my inner self," she told AFP, her head bent in concentration. AFP | Nhac NGUYEN On Monday, Macron is due to visit Hanoi's star attraction, the Temple of Literature, whose walls and explanatory panels are decorated with calligraphy in both traditional Chinese-influenced characters and Quoc Ngu. Colonisation led to the widespread use of Quoc Ngu -- which uses accents and signs to reflect the consonants, vowels, and tones of Vietnamese -- but it was created two centuries earlier on the initiative of Catholic priests. When the Avignon-born Jesuit Alexandre de Rhodes published the first Portuguese-Vietnamese-Latin dictionary under his own name in 1651, it was primarily intended for missionaries wishing to spread their religion in what was then called "Dai Viet". The French then spread the Latin alphabet while training the civil servants who helped them govern Indochina, explained Khanh-Minh Bui, a doctoral student at the University of California, Berkeley, specialising in 19th- and 20th-century Vietnamese history. Another motive was "severing connections with an older civilisation, which has greatly influenced the elites", in this case China, she said. - Artistic freedom - Compared to the characters that had been in use for centuries, Quoc Ngu was far easier to learn. Its adoption fuelled an explosion in newspapers and publishing which helped spread anti-colonial ideas that ultimately led to the rise of the Communist Party. "Quoc Ngu carried the promise of a new education, a new way of thinking," said Minh. When Ho Chi Minh proclaimed independence in 1945, it was "unthinkable" to turn back the clock, she added. Today, a Western tourist lost in the alleys of Hanoi can read the street names, but would have a hard time pronouncing them correctly without understanding the diacritics used to transcribe the six tones of Vietnamese. AFP | Nhac NGUYEN Calligraphy teacher Nguyen Thanh Tung, who has several young students in his class, says he has noticed rising interest in traditional Vietnamese culture. "I believe that it's in our blood, a gene that flows in every Vietnamese person, to love their traditional culture," he said. Calligraphy in Quoc Ngu offers more artistic freedom "in terms of colour, shape, idea" than that using characters, he believes. "Culture is not the property of one country, it's an exchange between regions," added Tung, 38. "English and French borrow words from other languages, and it's the same for Vietnamese."
