NEW YORK/HANOI - US President Donald Trump has announced that he has just made a trade deal with Vietnam after speaking with To Lam, general secretary of the Communist Party of Vietnam Central Committee.

"It will be a Great Deal of Cooperation between our two Countries. The Terms are that Vietnam will pay the United States a 20 percent Tariff on any and all goods sent into our Territory, and a 40 percent Tariff on any Transshipping," he wrote on his social media platform Truth Social.

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In return, Vietnam will do something that it has never done before: it will give the US total access to its markets for trade, according to the Trump post.

Vietnam will "OPEN THEIR MARKET TO THE UNITED STATES," meaning that "we will be able to sell our product into Vietnam at ZERO Tariff", he wrote.

During a phone call with Trump on Wednesday, To Lam welcomed the new trade agreement, Vietnam News Agency reported.

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He urged Washington to soon recognize Vietnam as a market economy and to lift export restrictions on certain high-tech goods.

The two leaders also discussed major directions and measures to further strengthen the Vietnam-US comprehensive strategic partnership in the coming years.