Jul 03, Kathmandu - US President Donald Trump has announced a new trade agreement with Vietnam. According to the BBC, the United States will impose a 20 percent tax on goods imported from Vietnam under the agreement.

Trump said in a social media post that according to the agreement, Vietnam will not impose any tariffs on American goods.

The US had previously imposed a 46 percent tariff on goods imported from Vietnam. This was supposed to take effect in the second week of July.

Currently, dozens of countries, including the European Union and Japan, are trying to reach a trade deal with the US before the US tariffs take effect.