US President Donald Trump has announced a trade deal with Vietnam, marking another success in his efforts to secure concessions from countries worldwide. The agreement was seen as a victory for Trump, who claims that it demonstrates the effectiveness of his negotiating tactics.
The deal was finalized on July 2nd, and Trump took to social media to share his excitement about the development. He wrote that dealing with Vietnam’s General Secretary To Lam “was an absolute pleasure” and said that it shows countries are caving in to his threats.
This latest agreement follows a pattern of Trump securing trade deals with various nations, often using a combination of economic incentives and diplomatic pressure. Critics argue that these agreements come at the expense of other countries’ interests and undermine global trade rules.
The Vietnamese government has not commented on the terms of the deal, but it is believed to involve concessions such as reduced tariffs and increased access to Vietnam’s markets. The agreement is seen as a significant development in Trump’s efforts to rebrand himself as a shrewd negotiator and secure key foreign policy victories.
As part of his economic agenda, Trump has been pushing for countries to adopt “big, beautiful budgets” that prioritize spending on defense and infrastructure projects. However, this approach has raised concerns among policymakers and economists worldwide, who argue that it could lead to increased debt levels and reduce government’s ability to respond to economic crises.
Source: https://www.economist.com/finance-and-economics/2025/07/03/how-to-strike-a-trade-deal-with-donald-trump