The United States announced it had reached a trade deal with Vietnam on Wednesday, which will see Washington impose a 20 per cent tariff on Vietnamese goods. Businesses in Vietnam's vast export sector initially reacted with relief to the news,

At the heart of Trump’s latest trade deal with Vietnam and talks with other trading partners is an effort to counter what he sees as China’s unfair practices to circumvent U.S. tariffs.

Vietnam’s trade deal with the US is a wake-up call for Asian governments grappling with the reality that higher tariffs are here to stay.US President Donald Trump announced a 20% tariff on imports from Vietnam,