President Trump announced a trade deal with Vietnam, reducing tariffs from a threatened 46% to 20% on Vietnamese exports, with 40% levies on trans-shipments from third countries. Vietnam gets zero-tariff access for US imports and preferential market access commitments. The agreement, announced days before July 9 tariff deadline, boosts apparel stocks and strengthens US-Vietnam ties against China’s influence.READ FULL
The US dollar remains weak against major currencies, nearing its lowest level in over a year versus the euro and pound. This trend is expected to continue due to potential Fed rate cuts and weakening US job market data. Meanwhile, the eurozone shows surprising economic strength. Oil prices have fallen for five consecutive days. In Canada, a major rail stoppage threatens to impact the economy and US-Canada trade. Reuters