By Juveria Tabassum (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.

U.S. stocks remain mostly higher on Wednesday morning after President Donald Trump said the U.S. has struck a trade deal with Vietnam. Goods from Vietnam to the U.S. will face a 20% rate, while transshipping goods will undergo a 40% tariff,

Most Asian stock markets experienced declines on Wednesday. This downturn was largely driven by investor apprehension surrounding the upcoming US trade, as U.S. President Donald Trump on Tuesday said he is not thinking about extending a current pause on reciprocal tariffs that is set to expire on July 9.