President Donald Trump said he had reached a trade deal with Vietnam following weeks of intense diplomacy between the nations and ahead of a deadline next week that would have seen higher tariffs imposed on the country’s imports.

The so-called “deal,” which has the character of the unequal treaties imposed on colonies in the heyday of imperialist rule in the late 19th and early 20th centuries, has implications that go far beyond Vietnam.

The tariff deal between the United States and Vietnam sets the stage for a further climb in trade volumes between the countries and will also impact the energy generation mix that powers the fast-growing Vietnamese economy.