Retail stocks with heavy exposure to Vietnam were rising Wednesday after President Donald Trump announced a trade deal with Vietnam that would lower tariffs on goods imported to the U.S. from there to 20% from the 46% announced back in April.

Shares of Nike, Wayfair, and other retailers with a significant production footprint in Vietnam rose Wednesday as President Trump said the U.S. reached a trade deal with the country.

Retail stocks with significant exposure to Vietnamese manufacturing climbed on Wednesday, according to Barron's. The gains followed Trump’s announcement of a new trade deal, which lowers tariffs on goods from Vietnam to 20%,