While the US has temporarily suspended the enforcement of countervailing duties and the Vietnamese Government is pushing for diplomatic negotiations, the wood industry in the Southeastern region has proactively devised flexible response plans.
Vietnamese Minister of Industry and Trade Nguyen Hong Dien and US Trade Representative Jamieson Greer reached a high consensus on principles, approaches, content orientations, and negotiation plans.
Tariff rates will soon return to a “reciprocal” level if countries don’t reach trade agreements during the 90-day pause, Treasury Secretary Scott Bessent said Sunday.
Vietnam’s position as the world’s top producer of Robusta coffee is under threat as Brazil edges closer to taking the lead within the next two to three years thanks to technological advancements and sustainable development policies.
While high tariffs are daunting, they could also be a catalyst for industry upgrades, encouraging the development of Vietnamese textile brands, investment in domestic raw materials and localisation.
The temporary agreement between the US and China to slash the severe reciprocal tariffs imposed on each other and to cooperate to prevent further disruption to the global economy should have a positive impact on trade, according to an analyst.