President Donald Trump announced a trade deal with Hanoi that would levy 20% on imports and a 40% tariff on transshipment from Vietnam.

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Vietnam is America’s seventh-largest trade partner and a major manufacturing hub.

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The announcement came after President Trump in April proposed a steep 46% tariff on Vietnamese imports; he later paused those tariffs while talks continued.

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President Trump said he's secured a trade deal with Vietnam in what would be just the second agreement Trump has made with another country.

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President Donald Trump announced a trade deal with Vietnam on Wednesday that would allow U.S. goods to enter the country duty-free.