The United States will place a lower-than-promised 20% tariff on many Vietnamese exports, Donald Trump said on Wednesday, cooling tensions with its tenth-biggest trading partner days before the U.S. president could raise levies on most imports.

President Donald Trump said Wednesday that the United States has struck a trade deal with Vietnam that includes a 20% tariff on the southeast Asian country's imports to the U.S. Trump's announcement on Truth Social said that the deal will give the U.S. tariff-free access to Vietnam's markets.

President Trump said he's secured a trade deal with Vietnam in what would be just the second agreement Trump has made with another country.