The US and Vietnam are reportedly close to reaching a framework trade agreement, and the Vietnam ETF fell over 2% during intraday trading

Wallstreetcn
2025.06.13 21:56
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The U.S. and Vietnamese governments are close to reaching a framework trade agreement, and the VanEck Vietnam ETF (VNM) has fallen more than 2% in the U.S. stock market. The ETF opened nearly 2% lower on Friday, maintaining around $13.06 during the day, and ultimately closed down over 2.5%, marking its lowest closing price since May 19. Sources revealed that Vietnam hopes the U.S. will set tariffs between 20% and 25% and strengthen enforcement against the transshipment of Chinese goods

According to media reports, the U.S. and Vietnamese governments are close to reaching a framework trade agreement. Following the news, the Vietnam ETF listed in the U.S., VanEck Vietnam ETF (VNM), maintained a decline of over 2% during trading.

The Vietnam ETF gapped down nearly 2% on Friday, spending most of the day with a decline exceeding 2%, hovering around the daily low of $13.06, and ultimately closed down over 2.5%, retreating to its lowest closing level since May 19 after a rebound on Thursday.

The aforementioned media stated that informed sources revealed progress in the U.S.-Vietnam negotiations. Although the U.S. remains concerned about Chinese goods being rerouted to evade tariffs, the two countries are nearing a framework trade agreement.

Informed sources indicated that Vietnam hopes the U.S. will set the tariff rate between 20% and 25%. The agreement will also include a series of U.S. demands, such as strengthening enforcement against the transshipment of Chinese goods and eliminating non-tariff barriers.

Sources said that the final details of the framework agreement are still being formulated to ensure approval from U.S. President Trump. They mentioned that more meetings are expected to take place in Washington on Friday to address some technical details.

While the final details remain unclear, sources indicated that Vietnam had previously proposed eliminating all tariffs while strengthening trade enforcement and increasing procurement of U.S. products.

The Vietnamese Ministry of Foreign Affairs did not immediately respond to requests for comment. The White House also had no comment at this time.

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