The Globe and Mail reports in its Thursday edition that the U.S. will impose a lower-than-promised 20-per-cent tariff on many Vietnamese exports, President Donald Trump announced Wednesday, easing tensions with the country ahead of a potential increase in import levies. A Reuters dispatch to The Globe reports that Vietnamese goods will now face a 20-per-cent tariff and any trans-shipments from third countries through Vietnam will face a 40-per-cent levy. Mr. Trump added Vietnam would accept U.S. products with a 0-per-cent tariff. "It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam, Mr. Trump wrote on Truth Social after speaking with Vietnam's top leader, To Lam. Mr. Trump's announcement comes just days before a July 9 deadline he set to resolve negotiations before he ramps up tariff on most imports, one of the Republicans' signature economic policies. The U.S. is Vietnam's largest export market and the two countries' growing economic, diplomatic and military ties are a hedge against Washington's biggest strategic rival, China. Shares of major U.S. apparel and sportswear makers, including Nike, Under Armour and North Face maker VF Corp., rose on the news.