A trade deal with Vietnam announced last week has been dubbed “fantastic” and “extremely one-sided,” by top White House’s economic adviser, Stephen Miran, in an ABC News interview on Sunday→view source.
He noted that it delivers major benefits to US exporters while imposing significant tariffs on Vietnamese goods.
Key details:
- Miran confirmed that the US will apply substantial tariffs to Vietnamese exports. Details on which sectors are targeted have not yet been fully disclosed.
- Vietnam agreed to grant “total access” to US products, removing tariffs on American goods entering Vietnam, which Miran called a “fantastic deal for Americans.”
- He also claimed using tariff threats to extract market-opening concessions has proved an effective strategy.
There has been a lot of speculation since a deal was announced between Vietnam and the US and whether or not it is a good outcome for Vietnam.
These comments from Miran would suggest, at least in the view of the Trump administration, it is not.
See also: Trump’s Vietnam Trade Deal Announcement: Sectors to Watch