The United States will maintain a 20% tariff on Vietnam, as the two sides have reached a framework for a mutually beneficial, fair, and balanced trade agreement.

BlockBeats News, October 26th, the White House of the United States stated that the U.S. and Vietnam have announced the framework of a reciprocal, fair, and balanced trade agreement. The U.S. will maintain a 20% tariff on Vietnam. The U.S. 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 barrier issues. They will seek to reach an agreement in the coming weeks.

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