Trump Trade: Trump says Vietnam to pay U.S. 20% tariff on goods

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly:

TARIFFS: President Donald Trump stated in a post to Truth Social, “It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam. It will be a Great Deal of Cooperation between our two Countries. 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. In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade. In other words, they will ‘OPEN THEIR MARKET TO THE UNITED STATES,’ meaning that, we will be able to sell our product into Vietnam at ZERO Tariff. 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. Dealing with General Secretary To Lam, which I did personally, was an absolute pleasure. Thank you for your attention to this matter!”

MEGABILL TO PASS: After a vote that remained open for several hours as House Speaker Mike Johnson, tried to convince five holdouts to advance President Trump’s signature legislation, the One Big Beautiful Bill Act, House Republicans have cleared a key hurdle, setting the bill up for final passage ahead of a self-imposed July 4 deadline, NPR’s Claudia Grisales reports. It is unclear what concessions Johnson made, if any, to secure the support of the few lawmakers who held up the vote. With just a narrow majority in the House, Republicans could only afford to lose three votes. The final tally was 219-213, the author says.

LARGER TAX CREDIT: The latest version of U.S. President Trump’s “big beautiful bill” could make it cheaper for semiconductor manufacturers to build plants in the U.S., Dylan Butts of CNBC reports. Under the bill, tax credits for semiconductor firms would rise to 35% from 25%, which is more than the 30% increase in the draft version of the bill. Companies eligible for the credits include Intel (INTC), TSMC (TSM), and Micron Technology (MU), provided they expand their manufacturing in the U.S. before a 2026 deadline.