The United States will place a lower-than-promised 20% tariff on many Vietnamese exports, Donald Trump said on Wednesday, cooling tensions with its tenth-biggest trading partner days before the U.S. president could raise levies on most imports.

The Trump administration’s new trade deal with Vietnam aims to shut down any “backdoor” routes that allow Chinese goods to

With Vietnam tariff rate at 20 percent, TD Cowen's John Kernan expects Southeast Asia will see rates "higher than 10 percent."