Schiff Warns Trump’s Vietnam Trade Deal Backfires, Fueling Inflation and De-Dollarization

Peter Schiff's critique of former President Trump's Vietnam trade agreement is gaining traction as American consumers bear the brunt of rising costs. The deal imposes a 20% tariff on Vietnamese imports and a 40% transshipping levy, driving up prices for U.S. households while Vietnamese buyers benefit from cheaper American goods.

The economic fallout extends beyond immediate inflation risks. Supply chain disruptions are compounding price pressures, with consultancy AlixPartners noting even a hypothetical 10% tariff WOULD significantly impact consumer wallets. Meanwhile, the policy accelerates global de-dollarization trends—a structural shift already rattling currency markets.

Trump defended the agreement on Truth Social, but Schiff maintains the asymmetrical benefits favor Vietnam. "Americans lose twice—through inflated import costs and diminished purchasing power for U.S. exports," the economist tweeted. The friction underscores growing trade policy tensions as nations recalibrate supply chains amid geopolitical realignments.