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EXEC: Apparel Brands Sourced in Vietnam Hit Hardest by Latest Trump Tariffs
['Sgb Executive']
SGB Media Online
Section 122 tariffs on trading partners expired on Friday, July 24, only to be replaced by a 10 percent to 12.5 percent Section 301 forced-labor tariff on 60 trading partners.
In other words, the imposition of Section 301 tariff was more subjective than expected.
Another section to the memorandum covered Tariff Rate Quotas (TRQs) that may have a particular negative impact on Vietnam.
These four countries have already negotiated and completed trade deals with the U.S. and are subject to the 10 percent duties.
It appears clear that the USTR intends to squeeze Vietnam to close a deal on reciprocal trade sooner rather than later.