Vietnam's making deals with China, Trump's tariffs are back in the headlines, China's threatening retaliation.

So where does that leave us now?

Welcome back to another episode of Built by Business. I'm your host, Andy Isam, and I felt like today was a good day for a tariff update. There's been some movement early this week with the discussions about the tariffs. Donald Trump announcing on Monday that all these countries that are waiting to make deals with the United

States have to get something in effect by August 1st. Otherwise, we're going back to the

craziness of all of those reciprocal tariffs. Now, obviously, the big one was China, right?

A lot of us are sourcing our products in China,

and we went through the roller coaster of tariffs over the past, what, four or five months of

tariffs going all the way up to well over 100%. And then we came to a little bit of an agreement

there where we had put a hold on that for a few months months where tariffs right now coming out of China are sitting

around an average of 51% or so. But that's not a done deal. China has until August 12th to reach

an agreement with the White House to keep Trump from reinstating additional import tariffs

that were imposed during that

tit-for-tat tariff exchange in April and May.

The official People's Daily Commentary said one conclusion is abundantly clear.

Dialogue and cooperation are the only correct path forward.

China also said that they firmly oppose any side striking a deal

that sacrifices Chinese interests in exchange for tariff concessions. If such a situation arises,

China will not accept it and will respond resolutely to protect its legitimate interests.

Now, last week, Vietnam actually secured a tariff reduction to 20% from 46%.

And they did that by making a deal with the United States for goods that are trans-shipped through it,

typically originating from China, to be subjected to a levy of 40%.

But in this circle of fun with the tariffs, Vietnamese Prime Minister Fam Mincine

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