Vietnam must move its factories to America! Better yet, become the 52nd state (keepin’ the light on for Canada!ðĻðĶ)."New" trade deal just dropped: US businesses get tariff-free access to the Vietnamese market, just as they were offered 8 years ago in the TPP, but Trump refused to sign.
— Justin Wolfers (@JustinWolfers) July 2, 2025
In addition, Trump's imposing a 20% tax on Americans who import goods from Vietnam. https://t.co/dyu7EG2BEk
And where is Congress on approving all of this to, you know, make it legal?The deal deets haven't been released.
— Justin Wolfers (@JustinWolfers) July 2, 2025
Big question is whether the new 20% import tax is on top of existing tariffs. If so, the tariff rate on Nike shoes is now 33.6%, and Nike clothes are 38.8%.
Either way, it's a substantial hike on the cost of a lotta clothing.
(Do NOT follow that one and read it he responses. Twitter really is the last redoubt of the terminally stupid. They are convinced tariffs are the salvation of American manufacturing, and that they don’t buy foreign made goods, anyway. Understanding of supply chains is as abysmal as understanding of democratic processes.)BREAKING: Trump announces what appears to be a horrible trade deal for the United States and Vietnam. American businesses will now be paying between 20 and 40% for imports coming from Vietnam.
— Brian Krassenstein (@krassenstein) July 2, 2025
It’s literally like they want inflation. pic.twitter.com/WR0Hd6RDfs
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