Vietnam's economy benefits from the deal, but the VanEck Vietnam ETF's limited manufacturing exposure means the news isn't a strong buy catalyst. Learn more on VNM ETF here.

On July 2, President Donald Trump finalized a new trade agreement with Vietnam, which he had personally negotiated with General Secretary Nguyen Xuan Phuc. The deal has a tariff of 20%, which will be assessed on all goods imported from Vietnam, and a 40% charge on any goods that might be considered transshipped goods.

The retail industry is breathing a sigh of relief after it appeared to avoid the worst case scenario on Vietnam tariffs