Announcing the deal with Vietnam last week, Trump said that the US will instead impose a 20 per cent tariff on Vietnamese goods. A higher rate of 40 per cent will apply on any goods from Vietnam it considers to have been ‘trans-shipped’ – i.

However, just a week later, he suspended them for 90 days to allow time for trade negotiations that would ease the market turmoil.

Stocks were down today in reaction to President Trump's latest tariff threats.