The trade deal between the United States and Vietnam has created a sense of cost certainty in the U.S. retail sector as businesses place their holiday orders with manufacturers, Bank of America (BofA) retail analyst Lorraine Hutchinson said during a July 8 interview with CNBC.
On July 2, the two countries signed a trade agreement under which American goods would face zero tariffs in the Asian nation while goods shipped to the United States would be subject to a tariff of 20 percent.
The deal was signed seven days before the initial 90-day pause on Washington’s reciprocal tariffs on imports from several foreign nations was set to end on July 9. This has now been extended to Aug. 1….