With the dust far from having settled on this week’s US-Vietnam trade agreement, one thing is clear: companies operating in what’s become one of the most vibrant Asian economies are on notice to move up the value chain.

Pressure for trade deals is mounting as the temporary reduction of Trump's reciprocal tariffs is set to end in a matter of days.

On July 2, President Donald Trump finalized a new trade agreement with Vietnam, which he had personally negotiated with General Secretary Nguyen Xuan Phuc. The deal has a tariff of 20%, which will be assessed on all goods imported from Vietnam, and a 40% charge on any goods that might be considered transshipped goods.