The tariff deal between the United States and Vietnam sets the stage for a further climb in trade volumes between the countries and will also impact the energy generation mix that powers the fast-growing Vietnamese economy.

Against a ticking clock, President Donald Trump said Wednesday the United States has reached a trade agreement with Vietnam, pulling off the administration’s third significant deal ahead of a self-imposed July 9 deadline.

The Vietnam agreement comes amid a broader administration push to finalize trade deals ahead of Trump's self-imposed "90 in 90" deadline—a period of 90 days for 90 targeted trade deals or renegotiations globally.