Vietnam was caught off guard by US President Donald Trump’s announcement of a 20% tariff on its goods, and is now seeking to lower the rate. Following a call with Trump last Wednesday, Vietnamese party chief To Lam instructed his team to continue negotiations to reduce the tariff. The surprise move came after Vietnam believed it had secured a more favorable deal.
Source: https://www.bloomberg.com/news/articles/2025-07-11/vietnam-surprised-by-trump-tariff-announcement-seeks-lower-rate