Just days before the July 9 deadline, President Trump announced Wednesday (July 2) that the US and Vietnam have a major trade deal – tariff rates have been agreed.
On July 2, President Donald Trump announced a new trade deal: the United States has set a 20% tariff on imports from Vietnam. The agreement, struck between U.S. and Vietnamese officials, comes just in time to replace a previously proposed 46% tariff that was set to take effect this month. In return, the U.S. will gain tariff-free access to Vietnamese markets on select exports.
The new rate is part of a broader strategy by the U.S. government to address trade imbalances and concerns over trans-shipping of goods through Vietnam. While the tariff applies across a wide range of Vietnamese exports, its impact will be particularly felt in sectors like apparel, electronics, and automotive components.
Brake drums and similar commercial vehicle parts are among the many industrial goods exported to the U.S. from Vietnam. TBP Auto remains committed to ensuring product quality, stable supply, and value for our customers. We are actively optimizing operations and logistics to mitigate the effects of the new duties.
This development underscores the importance of adaptability in global supply chains. TBP Auto will continue to work closely with partners and customers to navigate these changes while delivering the reliable, high-performance components we are known for.
Stay tuned for further updates on how TBP Auto is addressing the evolving trade landscape.
