“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.”

There will be no sale of TikTok to American investors until Chinese President Xi Jinping is confident he has extracted as much as he can in terms of a favorable trade deal with the White House,

An initial trade deal with Vietnam offers a glimpse of how President Trump is pushing countries to cut back on trade with China.