Financial markets reacted quickly to the news. Stocks of companies that rely on Vietnam for manufacturing rose sharply, reflecting optimism that trade tensions could ease. Nike, which produces a significant portion of its goods in Vietnam, saw its shares jump more than four percent following reports of the call. Investors appeared encouraged by the possibility that tariffs could be reduced or avoided altogether, potentially lowering costs for companies and consumers while stabilizing supply chains disrupted by recent trade actions.
The trade news coincided with fresh economic data showing continued strength in the U.S. labor market. The Labor Department reported that employers added 228,000 jobs in March, well above the 135,000 economists had expected. Although the unemployment rate edged up slightly to 4.2 percent, job growth accelerated compared to previous months. Revisions to January and February figures lowered earlier job estimates, but overall hiring momentum remained strong, reinforcing perceptions of a resilient economy.
Job gains were broad-based across multiple sectors. The private sector accounted for most of the growth, adding 209,000 jobs, far exceeding forecasts. Healthcare continued its steady expansion, while social assistance, retail, and transportation also posted notable increases. Government employment rose modestly, even as federal jobs declined for a second month. Manufacturing saw minimal growth, adding fewer jobs than anticipated, suggesting mixed conditions in that sector despite overall economic strength.
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