Trump announces 'massive' trade deal with Japan
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Free Malaysia Today on MSNVietnamese stocks near record on reform hopes, trade deal optimism
A trade deal that cut US tariffs on the nation’s goods to 20% from 46% in April also clears an overhang for the market.
Vietnam’s negotiators are still working on the terms of the tariff deal with their US counterparts, more than two weeks after it was first announced by US President Donald Trump.
The US trade agreement with Vietnam reportedly lowers tariffs but lacks detail, triggering sharp warnings from Chinese officials.
Vietnam is a top destination for retailers and brands looking to reduce their reliance on factories in China, but has also become a target of Trump's aggressive trade policy.
The announcement came after President Trump in April proposed a steep 46% tariff on Vietnamese imports; he later paused those tariffs while talks continued.