Vietnam's economy benefits from the deal, but the VanEck Vietnam ETF's limited manufacturing exposure means the news isn't a strong buy catalyst. Learn more on VNM ETF here.

UBS believes Under Armour is among the most vulnerable companies to the United States’ trade deal with Vietnam. But afterward, a UBS analyst predicted a decrease in profit estimates and more complications ahead.

(Reuters) -Shares of Nike and other apparel makers rose on Wednesday after U.S. President Donald Trump said he had struck a trade deal with Vietnam that would impose a lower than initially expected tariff rate on many imports from the Southeast Asian country.