The potential accord with the European Union, which would spare European goods the 50 percent tariffs Trump has threatened, is one of a few deals the White House could finalize this week.

“Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping,” Trump said on his social network. “In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade.”

The retail industry is breathing a sigh of relief after it appeared to avoid the worst case scenario on Vietnam tariffs