The announcement came after President Trump in April proposed a steep 46% tariff on Vietnamese imports; he later paused those tariffs while talks continued.
The Biden administration hopes to make deeper inroads in Southeast Asia but lags far behind China, which has already built up major trade ties, as well as roads and a high-speed rail.
What it means for the U.S. to be on the sidelines of another major trade agreement, the Regional Comprehensive Economic Partnership, which 15 countries agreed to Sunday.
