Asian shares were mixed on Friday after U.S. stocks climbed further into record heights as the clock ticks on President Donald Trump’s July 9 tariff deadline.

President Trump said he's secured a trade deal with Vietnam in what would be just the second agreement Trump has made with another country.

In return, Vietnam will face a 20 percent tariff on all its imports, plus a 40 percent tariff “on any transshipping.” That refers to a charge for goods made in another country

Figures show record $24.2bn raised from the levies in May but highlight potential for distortion to global trade flows

Duties on imports from dozens of countries would jump if the 90-day pause imposed in April expires July 9 as scheduled.

President Donald Trump’s two-tiered trade deal with Vietnam aims squarely at practices China has long used to skirt US tariffs: The widespread legal shifting of production to Southeast Asian factories and the murkier and illegal “origin washing” of exports through their ports.