“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.”

European Union negotiators have failed so far to achieve a breakthrough in trade negotiations with the Trump administration and may now seek to extend the status quo to avoid tariff hikes, five EU diplomats briefed on the talks said on Friday.

The S&P 500 hits another record as President Donald Trump announced a trade deal with Vietnam. Separately, his ‘big beautiful bill’ advanced in the Senate. Microsoft is laying off thousands and ADP’s private payroll report shows job cuts.