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

U.S. and Vietnamese businesses have asked the Trump administration to delay its planned 46% tariff on Vietnamese goods, saying the levy will hurt them and bilateral commercial relations. The Vietnam Chamber of Commerce and Industry and the American Chamber of Commerce in Hanoi expressed concern to Commerce Secretary Howard Lutnick in a letter dated Saturday,

Vietnam is also seeking a delay to the 46% import levies announced by President Donald Trump earlier this week.