In the post, President Trump outlined Vietnamese goods will face a 20 per cent tariff while trans-shipments from third countries through Vietnam and will face a 40 per cent levy. He also stated Vietnam could import US products with a zero per cent tariff.
According to Trading Economics, in 2024 the US imported $363.96 of coffee, coffee husks, and sustitues with coffee from Vietnam.
It remains unclear which industries the 20 per cent tariff will apply to or whether some industries would qualify for lower or higher total duties. According to Reuters, the Vietnamese Government did not confirm the specific tariff levels in a statement celebrating what it described as an agreement on a joint statement about a trade framework.
“It is my great honour to announce that I have just made a trade deal with the Socialist Republic of Vietnam,” says Trump.
The President’s announcement comes days before the 9 July deadline when the 90-day pause on widespread tariffs was due to end. On 3 April, after the initial tariff announcement, world coffee prices fell as investors worried President Trump‘s tariffs would damage coffee demand in the world’s top consumer of the product.
