Vietnam’s leadership was caught off guard by US President Donald Trump’s announcement last week that it agreed to a 20% tariff, and the Southeast Asian nation is still seeking to lower the rate, according to people familiar with the matter.
Straight after last Wednesday’s call with Trump, Vietnam’s party chief To Lam told his negotiating team to keep working to bring the tariff rate down, the people said, asking not to be identified as the talks are confidential. The 20% figure came as a surprise as Vietnam believed it had secured a more favorable tariff range, the people said.
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