By Ying Xian Wong

Vietnam was one of the biggest losers in President Trump's initial "Liberation Day" tariff announcement-getting hit with a 46% tariff-and now it is one of the biggest winners because it will receive the same 10% tariff rate most other countries are getting, at least for now.

The benchmark VN index in Vietnam is up 6.6% in Thursday trading-its best intraday gain since June 2011. The 90-day reprieve Trump granted to most nations including Vietnam provides room for potential trade deals, and the negotiations are already getting under way. Vietnam's deputy prime minister was in Washington on Wednesday meeting the U.S. trade representative and members of Congress.

Vietnam has the third-biggest trade surplus with the U.S. after China and Mexico and exports more than $100 billion in goods to the U.S. annually, including items such as Nike shoes and consumer electronics. Nike shares rose 11% in New York trading Wednesday

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April 10, 2025 00:00 ET (04:00 GMT)

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