The US-Vietnam trade deal marks a significant achievement for President Trump, being the first major trade pact with an Asian nation. This deal has raised concerns about a potential standoff with China. South Korean President Lee Jae-myung has expressed uncertainty regarding the ongoing tariff negotiations with the US, emphasizing the importance of achieving mutually beneficial outcomes. Vietnam currently has the third-largest trade surplus with the US, following China and Mexico, and this deal highlights how the US may handle future agreements with other Asian countries like South Korea, Japan, and Thailand.
The US-Vietnam trade deal represents the first full trade pact signed by President Trump with an Asian nation, potentially indicating a template for other Asian accords.
Analysts suggest the US-Vietnam trade deal could reveal how the US will approach future agreements with other Asian countries, amidst ongoing tariff negotiations.
Lee Jae-myung emphasized the need for mutually beneficial outcomes in tariff negotiations, stating both sides must clearly define their goals to reach an agreement.
The upcoming expiration of Trump's 90-day pause in global reciprocal tariffs could lead to a 25% tax on South Korean products if negotiations are not concluded.
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