Trump announces trade deal with Vietnam

NEW YORK, July 2 (Xinhua) -- U.S. President Donald Trump announced on his social media platform Truth Social that he has just made a trade deal with Vietnam after speaking with To Lam, general secretary of the Communist Party of Vietnam Central Committee.

"It will be a Great Deal of Cooperation between our two Countries. The Terms are that Vietnam will pay the United States a 20 percent Tariff on any and all goods sent into our Territory, and a 40 percent Tariff on any Transshipping," he wrote.

In return, Vietnam will do something that it has never done before, namely give the United States total access to its markets for trade, his post said.

Vietnam will "OPEN THEIR MARKET TO THE UNITED STATES," meaning that "we will be able to sell our product into Vietnam at ZERO Tariff," wrote Trump.