The tariff deal between the United States and Vietnam sets the stage for a further climb in trade volumes between the countries and will also impact the energy generation mix that powers the fast-growing Vietnamese economy.

Pressure for trade deals is mounting as the temporary reduction of Trump's reciprocal tariffs is set to end in a matter of days.

Against a ticking clock, President Donald Trump said Wednesday the United States has reached a trade agreement with Vietnam, pulling off the administration’s third significant deal ahead of a self-imposed July 9 deadline.