Retail stocks with significant exposure to Vietnamese manufacturing climbed on Wednesday, according to Barron's. The gains followed Trump’s announcement of a new trade deal, which lowers tariffs on goods from Vietnam to 20%,

Shares of Nike and other apparel makers rose on Wednesday after U.S. President Donald Trump said he had struck a trade deal with Vietnam that would impose a lower than initially expected tariff rate on many imports from the Southeast Asian country.

Shares of Nike, Wayfair, and other retailers with a significant production footprint in Vietnam rose Wednesday as President Trump said the U.S. reached a trade deal with the country.