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President Donald Trump announced that Vietnam wants to drop tariffs on U.S. goods entirely if a deal can be struck between the countries.
Trump revealed the major development following a phone call with the general secretary of Vietnam’s Communist Party, To Lam.
“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 U.S.,” Trump wrote in a Truth Social post.
“I thanked him on behalf of our Country, and said I look forward to a meeting in the near future,” he added.
The call comes days after Trump announced his sweeping worldwide reciprocal and baseline tariffs, which included a hefty 46-percent discounted reciprocal tariff on Vietnamese goods imported into America.
The reciprocal tariffs Trump imposed on many countries will take effect after midnight on April 9, while the ten-percent baseline tariffs on other nations are set to take effect Saturday.
Nike stock plunged on Wednesday and into Thursday following Trump’s tariff announcement. The company has 130 factories in Vietnam, and some 460,000 workers, as – News’s John Binder noted.
Nike stock opened at 53.22 per share on Friday, and saw a jump to as high as 58.73 in the minutes after Trump’s Truth Social announcement, CNBC’s data shows. It was trading anywhere from 63.49-65.35 in the days before a sharp dropoff during the president’s announcement on Tuesday, which he calls “Liberation Day.”
Trump on Thursday morning likened his sweeping tariff plan for the country’s trade imbalances to a successful surgery on a patient.
“THE OPERATION IS OVER! THE PATIENT LIVED, AND IS HEALING. THE PROGNOSIS IS THAT THE PATIENT WILL BE FAR STRONGER, BIGGER, BETTER, AND MORE RESILIENT THAN EVER BEFORE. MAKE AMERICA GREAT AGAIN!!!” he wrote on a Truth Social post.
