Trump says Vietnam willing to cut tariffs on US imports to ‘ZERO’ if trade deal reached

Trump posted on Truth Social, "Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the US. I thanked him on behalf of our Country, and said I look forward to a meeting in the near future."

On Wednesday, Trump announced that there would be an across-the-board 10 percent tariff on nearly all imports to the US as well as several reciprocal tariffs against China, the EU, Vietnam, and a number of other countries. A chart released by the White House said that the US would hit imports from Vietnam with a tariff of 46 percent.

Trump has previously indicated that if other countries drop their own trade barriers against US imports that the Trump administration will lower the reciprocal tariffs in response.

After dropping in response to the tariffs announced by Trump, some companies saw a bump after Trump's post on Truth Social. Nike, for example, which manufactures goods in Vietnam, saw its stock jump from around $54 a share to $58 a share. Other shoe companies, such as Sketchers, also saw a bump in response.

According to Bloomberg, Vietnam had earlier asked for the Trump administration to delay the tariffs by three months in order to work out a negotiated deal.