The European Union has finalized its free trade agreement with Vietnam. Starting in 2018, 99 percent of all import duties and export duties affecting bilateral trade are going to be phased out over a seven-year period. The FTA will make it easier and cheaper to import shoes from Vietnam into the EU. As previously reported, the U.S. is negotiating the liberalization of trade with Vietnam and other countries on both sides of the Pacific Ocean through the Trans-Pacific Partnership (TPP).