Last week, the Trump administration announced that it reached a deal with Vietnam that would allow U.S. goods to enter the country duty-free, while Vietnamese exports to the U.S. would face a 20% levy. That was a decline from the 46% tax on Vietnamese imports he proposed in April.

U. stocks slid sharply after President Trump unveiled sweeping 25–40% tariffs on imports from 14 countries, including Japan and South Korea. Tesla shares nosedived after Elon Musk launched a new political party,

Stock market indices fell amid rising tariff tensions and Tesla shares declined after Elon Musk's political party announcement. The U.S. plans to finalize trade pacts soon, and Trump's tariffs could impact the Federal Reserve's monetary policy decisions.