Trump says tariffs are meant to bring back more factory jobs. Will it work?
USA TodayJUL 3
Trump Announces US Trade Deal with Vietnam
Above: Donald Trump at the White House on June 27, 2025, in Washington, D.C. Image copyright: Joe Raedle/Getty Images
The Spin
Pro-Trump narrative
Trump's tariff strategy is working brilliantly as a negotiation tool. Vietnam's deal proves countries will open their markets when faced with serious consequences. The 20% rate is fair, considering their massive trade surplus, and zero tariffs for U.S. exports create real opportunities for American businesses.
Anti-Trump narrative
Blanket tariffs aimed at evening out trade deficits are driving America toward dangerous economic isolation as well as hurting consumers with higher prices. The haphazard approach is not a recipe for strong economic growth; it creates uncertainty that's already reducing manufacturing investment and port activity.