President Donald Trump announced that Vietnam’s top leader, To Lam, is willing to eliminate tariffs entirely if an agreement with the U.S. can be reached. The statement suggested a potential de-escalation of trade tensions, following the recent imposition of 46 percent U.S. tariffs on Vietnamese imports. Trump framed the development as a diplomatic and economic win, emphasizing the use of tariffs as leverage in negotiations. Markets responded positively, with companies operating in Vietnam, including Nike, seeing significant stock gains amid expectations of lower trade barriers and stabilized supply chains.

The announcement coincided with robust March employment data. U.S. employers added 228,000 jobs, far exceeding expectations of 135,000, although the unemployment rate ticked up slightly to 4.2 percent. Private-sector hiring drove most of the gains, particularly in healthcare (+53,600 jobs), social assistance (+24,200), retail (+23,700), and transportation (+22,900). Federal government employment declined slightly, and manufacturing growth remained weak (+1,000 jobs), highlighting ongoing sectoral challenges.

Economists noted that while the labor market is strong, tariffs could increase inflation toward four percent. The report offers the Federal Reserve flexibility regarding interest rates. Administration officials credited the results to positive business responses to Trump’s economic and trade policies.