The US will maintain a 20% tariff on Vietnam as the two sides have reached a framework for a reciprocal, fair, and balanced trade agreement

BlockBeats News, October 26, the White House of the United States stated that the United States and Vietnam have announced the framework of a reciprocal, fair, and balanced trade agreement. The United States will maintain a 20% tariff on Vietnam. The United States will identify products and a potential tariff adjustment plan to provide friendly partners with zero-tariff reciprocal treatment.

Both parties will cooperate constructively to address non-tariff barriers. They will seek to reach an agreement in the coming weeks.

Meanwhile, the Ministry of Foreign Affairs of Malaysia stated that Malaysia and the United States will elevate their bilateral relationship to a comprehensive strategic partnership. (FXStreet)