WASHINGTON (AP) — President Donald Trump announced a trade deal with Vietnam Wednesday that would allow U.S. goods to enter the country duty-free. Vietnamese exports to the United States, by contrast, would face a 20% levy. On his Truth Social platform, Trump declared the pact “a Great Deal of Cooperation between our two Countries.”

President Donald Trump said he had reached a trade deal with Vietnam following weeks of intense diplomacy between the nations and ahead of a deadline next week that would have seen higher tariffs imposed on the country’s imports.

Against a ticking clock, President Trump said the United States has reached a trade agreement with Vietnam, pulling off the administration’s third significant deal ahead of a self-imposed July 9 deadline.