“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 said on his social network. “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.”

The US has eased export restrictions on China for chip design software and ethane, a sign that trade tensions are calming

Chinese goods face 55% tariffs, likely through August. Under the Vietnam deal, the US will impose 20% tariffs on Vietnamese exports and 40% on transshipped goods to curb Chinese tariff evasion