President Trump announced a trade deal with Vietnam, lifting investor sentiment that more agreements could come before the July 9 tariff-pause deadline.
“The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping,” Trump wrote on social media on Wednesday morning.
“In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade,” he added.
“It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam,” wrote Trump.
Investors have been closely watching developments on the trade front as July 9 approaches — the deadline following a 90-day pause of reciprocal tariffs announced in April.
The US recently announced a framework agreement with China, a major trading partner.