The retail industry is breathing a sigh of relief after it appeared to avoid the worst case scenario on Vietnam tariffs

We anticipate Nintendo will pass nearly all tariff-related costs to U.S. consumers, resulting in an estimated 18–20% price increase,’ Wedbush analyst Alicia Reese wrote on Thursday.

On July 2, President Donald Trump finalized a new trade agreement with Vietnam, which he had personally negotiated with General Secretary Nguyen Xuan Phuc. The deal has a tariff of 20%, which will be assessed on all goods imported from Vietnam, and a 40% charge on any goods that might be considered transshipped goods.