The US-Vietnam agreement signals an increase in tariffs, Trump says tariffs are "too low."

Rabobank analyst Ipek Ozkardeskaya said that the US-Vietnam trade agreement sends a strong signal that tariffs on other countries will not hover around the universal 10% level, but will be higher. Earlier, Trump told reporters that the US will begin writing to other countries outlining tariff rates, which may range from 60% or 70% to 10% and 20%. Trump referred to these tariff rates as "cheap goods," adding, "I don't want to exaggerate. We hope to maintain a fairly reasonable level." He said that for smaller countries, tariffs will essentially remain unchanged.