Daily SumUp

Vietnamese firms will sign memorandums of understanding with U.S. partners to buy $2 billion worth of American farm produce, the agriculture ministry said on Tuesday, part of efforts to seal a new trade deal between the two countries.

Vietnam has been slapped with 46% "reciprocal" tariffs by the Trump administration. Though they have been paused until July, if they come into effect they could seriously undermine a growth model that relies on exports to the United States, its top market.