Bitcoin and Stocks Rise After Trump’s Vietnam Deal
2025-07-02 17:48:13
Main Idea
Bitcoin and stocks rose following President Trump's announcement of a trade deal with Vietnam, which reduced export tariffs and sparked market optimism.
Key Points
1. President Trump announced a trade deal with Vietnam, reducing export tariffs from 46% to 20%, via a Truth Social post.
2. Bitcoin's price increased by 3.09%, and major stock indices (Nasdaq, S&P 500) also saw gains, while the Dow dipped slightly by 0.05%.
3. ADP reported a loss of 33,000 private sector jobs in June, contrary to economists' projections of a 100,000 increase.
4. The U.S. Bureau of Labor Statistics is expected to release jobs data showing a 100,000 increase but with a higher unemployment rate of 4.3%.
5. Trump emphasized the elimination of import taxes on transshipped goods, which will now face a 40% tariff.
Description
U.S. President Donald Trump made the announcement on Wednesday morning via his social media platform, Truth Social. Trump’s Vietnam Trade Deal Sparks Gains Vietnam struck a deal with the U.S. to lower the Southeast Asian country’s tariffs on exported goods from 46% to 20%, according to a Truth Social post by U.S. President Donald Trump
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