Nike Jumps as Trump Hails Trade Deal With Vietnam

Good morning. Donald Trump says Vietnam agrees to a trade deal. Tesla sales tumble but some investors think the worst is over. And Sean “Diddy” Combs is acquitted of top charges after a seven-week trial. Listen to the day’s top stories.

The US and Vietnam clinched a trade deal that’ll slap a 20% tariff on the Southeast Asian nation’s exports to America and a 40% levy on goods deemed to be transshipped, Donald Trump claimed. In return for lower levies, Vietnam agreed to drop all tariffs on US imports, he said. The framework, which Hanoi hasn’t confirmed, would be the third reached before the US president’s July 9 deadline. Nike shares jumped 4.1%, while Lululemon and other apparel makers edged higher.