Vietnam’s trade deal with the US is a wake-up call for Asian governments grappling with the reality that higher tariffs are here to stay.US President Donald Trump announced a 20% tariff on imports from Vietnam,

Asia stock markets saw muted performance on Thursday as market participants assessed a confluence of factors, which included the upcoming resolution of U.S. trade agreements, with a deadline set for July 9,

National University of Singapore Senior Lecturer Alex Capri argues Vietnam’s trade deal with the US will give it long-term access to American technology and export markets. He adds that the agreement may also attract more US investment into Southeast Asia as companies continue shifting supply chains out of China.