Remember: the tariffs are reciprocal. The US will lift its tariffs on Vietnam and Israel when they lift their tariffs on the US.
I wish that Trump had made that clearer in his announcement.
Where did you find that 92% rate? (I’ve seen it or 90% elsewhere, but without a source.)
I saw the following on Vietnamplus.vn:
On March 31, the Vietnamese Government issued Decree No. 73/2025, amending preferential tax rates on several key imports. Among the notable changes, taxes on goods such as automobiles, wood products, ethanol, frozen chicken thighs, pistachios, almonds, fresh apples, cherries, and raisins have been significantly reduced.
Import taxes on automobiles, for instance, have dropped from 64% to 50% and 45% to 32%, while ethanol taxes have been cut from 10% to 5%. Frozen chicken thighs now carry a 15% tax (down from 20%), and popular items like pistachios, almonds, fresh apples, and cherries have seen reductions from 8–15% to just 5%.
The most striking move, however, is the slash of import taxes on wood and wooden products, including coat hangers, chairs, and furniture, from 20–25% to a uniform 0%.
The decree took effect immediately on March 31.