Trump says U.S. strikes trade deal with Vietnam

What they're saying: "I just made a Trade Deal with Vietnam. Details to follow!" Trump posted to Truth Social.

• In a follow-up post, Trump said exports from Vietnam would face a 20% tariff, and 40% on goods not originally from Vietnam but shipped through the country.
• He also said Vietnam would "OPEN THEIR MARKET" to the U.S. with zero tariffs. He specifically called out SUVs as one potential product.
• The Vietnamese embassy didn't immediately respond to Axios' request for comment.

By the numbers: Vietnam faced a reciprocal tariff of 46%, which could have gone into effect as soon as next week.

• The U.S. consistently runs a bigger trade deficit with Vietnam than most countries — some $14.5 billion just in April, per government data.
• More than half of U.S. imports from the country are electronic products and apparel, per the International Trade Commission.

The intrigue: Shipping goods through Vietnam has been a way for some companies to get around larger Chinese tariffs.

• The split tariff rate appears to be a way to address that pathway.

Editor's note: This is a breaking news story. Please check back for updates.