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.

Nike stock rose Wednesday after Trump said the US had struck a trade deal with Vietnam, a key import source for the company and others in the footwear industry.

The world’s largest apparel and footwear companies’ shares jumped after US President Donald Trump said he reached a trade deal with Vietnam on Wednesday, avoiding a potential supply chain catastrophe across the industry.