Just days before a 8th July trade negotiation deadline, Trump announced a framework agreement with Vietnam via Truth Social on 2nd July, touting it as the second such deal for the US.
His post stated that Vietnamese exports would face a 20% tariff, a substantial drop from the original 46% announced in April, while other countries faced 40%.
In return, Trump claimed Vietnam would "open its market to the United States," allowing US goods to be sold at "zero tariffs."
However, this announcement reportedly sent shockwaves through Hanoi.
According to sources, Vietnam's negotiating team had understood the tariff rate would be closer to 11%.
Crucially, during his phone call with President Lam – who was not part of the initial tariff negotiations – Trump allegedly failed to mention any specific figures before publicly announcing a rate almost double what Vietnam believed was agreed.
A Washington lobbyist working with Asian governments expressed widespread surprise within the US, stating, "Trump plays everyone."
The lobbyist added that this move left the Vietnamese government "shocked, disappointed, and angry."