U.S. Stocks Advance After Trade Deal with Vietnam
(MENAFN) U.S. equities ended predominantly higher on Wednesday after President Donald Trump revealed a new trade agreement with Vietnam.
The announcement seemed to bolster investor sentiment, pushing several major indices to fresh record levels.
The Dow Jones Industrial Average recorded a marginal decline of 0.02 percent, slipping by 10.52 points to settle at 44,484.42. Despite the small dip, broader indices demonstrated notable strength.
In contrast, the S&P 500 edged up by 0.47 percent, concluding the session at a new all-time peak of 6,227.42.
This marks the third occasion in recent days that the index has reached record territory, having also done so on Friday and Monday.
The Nasdaq Composite surged by 0.94 percent, climbing 190.24 points to end the day at 20,393.13—another historic high.
The tech-heavy index benefited from continued momentum in high-growth sectors.
President Trump disclosed on Wednesday that the United States had finalized a trade pact with Vietnam, following discussions with Vietnamese Communist Party General Secretary To Lam.
"It will be a Great Deal of Cooperation between our two Countries," Trump shared on his Truth Social platform. He elaborated, "The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping."
According to Trump, the U.S. will enjoy "total access" to Vietnamese markets. "We will be able to sell our product into Vietnam at ZERO Tariff," he noted, highlighting the benefits for American exporters.
He further added, "It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam," emphasizing the potential for U.S. automotive expansion in the Southeast Asian nation.
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