Core Points - The initial agreement between Vietnam and the U.S. to significantly reduce tariffs was abruptly undermined by President Trump's announcement of a 20% tariff on Vietnamese goods, nearly double the expected rate of 11% [1][2] - The lack of formal documentation regarding the agreement raises doubts about its existence and validity, with both parties failing to release any official agreement [2] - The last-minute change in tariff rates has eroded trust in U.S. trade negotiations, leading other countries to question the reliability of agreements made with the U.S. [3] Summary by Sections Agreement Details - Vietnam believed it had reached a preliminary consensus on an 11% tariff rate, but Trump announced a 20% tariff during a call with Vietnamese General Secretary Nguyen Phu Trong [1] - No formal agreement has been published by either side, leading to skepticism about the claimed agreement [2] - A draft of the original agreement suggested more favorable trade conditions for Vietnam, including significant tax reductions on imports [2] Impact on U.S. Trade Credibility - The sudden tariff increase has diminished other countries' confidence in U.S. trade negotiations, as they observe the unpredictability of agreements [3] - Former U.S. trade officials express concern that this incident could damage long-term trust in U.S.-Vietnam relations, which have developed over the past 30 years [3] - The bilateral trade volume between the U.S. and Vietnam has surged from $2.9 billion in 2002 to over $139 billion in 2022, highlighting the importance of this relationship [3]