Trump's landmark trade deal with Vietnam has markets spiking

Trump's landmark trade deal with Vietnam has markets spiking originally appeared on TheStreet.

On July 2, President Donald Trump finalized a new trade agreement with Vietnam, which he had personally negotiated with General Secretary Nguyen Xuan Phuc.

The deal has a tariff of 20%, which will be assessed on all goods imported from Vietnam, and a 40% charge on any goods that might be considered transshipped goods.

Crypto markets reacted with cautious optimism. Bitcoin was up 0.10% to $108,105, Ethereum was up 0.43%, and Solana was leading the majors with a 0.72% increase, with room to grow, considering the trade opening as a macro bullish signal for the overall crypto market.

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In addition to this concession, Vietnam will provide full access to all U.S. products, including those with large engines, such as SUVs, with no tariffs whatsoever, said President Donald Trump on Truth Social.

Trump's remarks on Truth Social whether it be on trade talks or his favorite "One Big Beautiful bill have shifted the pendulum of volatility in the crypto markets for the past week.

Further, his announcement of an impending economic "renaissance" has captured the interest of various crypto traders, while scaring others worried about policies that will be elusive.

Just weeks ago, Bitcoin briefly dipped to $106,000 during a social media spat, where the President and Elon Musk clashed over the bill. The online tussle has stressed investor confidence, as both have been responsible for driving market sentiment.

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Today's trade breakthrough, however, seems to have steadied the nerves of the crypto markets Interestingly, on June 14, Vietnam enacted the Law on Digital Technology Industry, which officially recognizes and regulates crypto assets beginning January 1, 2026.

The law defines cryptocurrencies as digital assets and, more specifically, categorizes them into two types: "virtual" assets and "crypto" assets. The law excludes securities and digital fiat.

The law aims to encourage innovation while providing supervision. It is unclear whether Trump's new tariff deal will impact Vietnam's rollout of its crypto framework.

Trump's landmark trade deal with Vietnam has markets spiking first appeared on TheStreet on Jul 2, 2025

This story was originally reported by TheStreet on Jul 2, 2025, where it first appeared.

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