Trump administration faces pressure to clinch more trade deals, with a temporary tariff freeze on dozens of countries set to expire.

President Donald Trump's second term economic plan can be summed up in one word: tariffs. As his barrage of import taxes went into overdrive in recent months, markets trembled and business leaders sounded alarms about the economic damage they would cause.

President Donald Trump’s trade war risks reigniting next week when a temporary pause on sweeping tariffs is set to expire, potentially driving up costs for businesses and raising prices for consumers

Meanwhile, President Trump on Wednesday said he had reached a trade deal with Vietnam, one week ahead of a July 9 deadline for tariffs to snap back to higher levels for US partner

The agreement slaps a 20 per cent tariff on Vietnamese exports to the US and a 40 per cent levy on goods deemed to be transshipped through the country

The Trump administration’s new trade deal with Vietnam aims to shut down any “backdoor” routes that allow Chinese goods to circumvent tariffs and flood the U.S. market. The deal, announced on Wednesday by President Donald Trump,