Your favorite Lululemon leggings and Nike sneaker could soon see price hikes after Trump's Vietnam deal left tariffs on the major exporter at 20%.

Shares of Nike, Wayfair, and other retailers with a significant production footprint in Vietnam rose Wednesday as President Trump said the U.S. reached a trade deal with the country.

Vietnam is a key footwear and apparel manufacturing centre for major retailers, including Nike Inc., Adidas AG, Gap Inc., Under Armour Inc., Lululemon Athletica Inc. and Aritzia Inc. — all of which got a boost from the news.