U.S. President Donald Trump and Vietnam's leader To Lam agreed on Friday to discuss a deal to remove tariffs, both leaders said after a phone call that Trump said was "very productive", as Hanoi escalated its campaign to dodge duties of 46%.

The president’s statement helped boost shares in apparel brands Nike, Lululemon, and American Eagle — all of which have major operations in the country.

President Trump said he had a call with Vietnam leader To Lam, and said that the latter wants to cut Vietnam’s tariffs down “to ZERO if they are able to make an agreement with the U.S.” News of the call,