U.S. Treasury Officials Expect Multiple Trade Deals Including Vietnam Agreement Before July 9 With 20% Reciprocal Tariff

U.S. Deputy Treasury Secretary Faulkender and Treasury Secretary Scott Bessent have indicated that multiple trade deals are expected to be announced in the coming week, with a particular focus on agreements finalized before July 9. Secretary Bessent confirmed that a trade deal with Vietnam has been finalized in principle, specifying that Vietnam's 20% tariff is a reciprocal rate and does not add on top of the existing 10% tariff. Bessent emphasized that Vietnamese suppliers will bear the tariffs to maintain or expand their market share, thereby minimizing the impact on U.S. company margins and consumer prices. Both officials anticipate a flurry of additional trade agreements to be announced shortly.