Trump, Vietnam
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The president said he had agreed to initial trade terms with Vietnam, the second country to strike a limited deal after Mr. Trump threatened steep tariffs.
The US trade agreement with Vietnam reportedly lowers tariffs but lacks detail, triggering sharp warnings from Chinese officials.
The retail industry is breathing a sigh of relief after it appeared to avoid the worst case scenario on Vietnam tariffs
Despite touching an intraday, three-year high of 1,392, Vietnam’s Ho Chi Minh stock index was ultimately subdued and closed down 0.19%, after signing a trade deal with the U.S.
Vietnam finds itself caught between its two biggest trading partners as the Trump administration tries to stop Chinese exporters using Vietnam as a way station.
The Vietnam deal is part of Trump’s broader trade overhaul, which aims to assign “reciprocal tariff rates” to over 170 trading partners.