US stocks rise after Trump announces trade deal with Vietnam

At around 11pm on July 2 (Vietnam time), CNBC channel updated: The S&P 500 index on the US stock market increased after President Trump announced that the US had reached a trade agreement with Vietnam.

Employees work at the New York Stock Exchange (NYSE) during its opening hours in New York City, USA, on June 23. Next to them is a hat with the words "Make America Great Again" - Photo: AFP

The S&P 500 rose 0.3%, while the Nasdaq Composite gained 0.7%. The Dow Jones Industrial Average gained 48 points, or 0.1%.

"The S&P 500 index rose after President Trump posted information about the US-Vietnam trade deal on the social media platform Truth Social, although he did not provide further details about the agreement. Shares of Nike, which manufactures about half of all footwear in Vietnam and China, rose 3% following the announcement," CNBC wrote.

Earlier that day, the US stock market came under pressure after the latest report from payroll analyst ADP showed that the country's private sector had lost 33,000 jobs last month.

This marks the first monthly decline in the ADP jobs report since March 2023. Some economists had previously predicted a 100,000 increase in jobs.

According to information from the Vietnamese Ministry of Foreign Affairs , at approximately 8 PM on July 2nd, General Secretary To Lam had a telephone conversation with US President Donald Trump regarding Vietnam-US relations and negotiations on reciprocal tariffs between the two countries.

General Secretary To Lam and President Donald Trump welcomed the agreement reached by the two countries' negotiating teams on the Vietnam-US Joint Statement on the framework for a reciprocal, fair, and balanced trade agreement.

President Trump affirmed that the US would significantly reduce reciprocal tariffs on many Vietnamese exports.

On the same day, on the social media platform Truth Social, Mr. Trump also posted: "I just reached a trade agreement with Vietnam. Details will be announced later!"

Last April, President Trump announced a series of new tariffs applied to many trading partners (including Vietnam, which was subject to a 46% tariff), but temporarily suspended implementation for many countries for 90 days to allow time for negotiations with partners.

Tuoitre.vn

Source: https://tuoitre.vn/chung-khoan-my-tang-diem-after-ong-trump-thong-bao-dat-thoa-thuan-thuong-mai-voi-viet-nam-20250702230418267.htm