The US is one of the largest markets for gemstones and jewelry globally and a key export destination for Thailand and many other countries.

While the policy reflects Vietnam’s intent to strengthen trade relations with the US, the real impact on car prices will be modest partly because import tariffs are just one part of the vehicle's cost.

The Ministry of Finance confirmed that the adjustment reflects Vietnam’s strategy to promote trade liberalisation with key partners, especially the United States, and support domestic consumption.

Hoai said the US's proposed reciprocal tariff of 46% on imports from Vietnam can have significant and multifaceted impacts on the Southeast Asian country’s exports and economic growth in the near future.

Noudhy Valdryno, Deputy for Dissemination and Media Information at the PCO, said that President Prabowo has already anticipated potential global policy disruptions and prepared three key breakthrough measures to address them.

The Thai Commerce Ministry is aiming to sign three free trade agreements in 2024, including two new deals with Sri Lanka and the European Free Trade Association (EFTA), and an upgrade to the existing ASEAN – Australia – New Zealand trade pact.

Deputy Prime Minister Le Minh Khai has approved reforms to the tax system.

The Republic of Korea (RoK) is importing more shrimps from Vietnam, and has become the fifth biggest importer of Vietnam’s shrimps with 10.7 percent of market share.

Quality standards, rules of origin, and legal aspects are said to be among the barriers Vietnamese businesses will have to overcome to gain a foothold in the European market under the EU-Vietnam Free Trade Agreement (EVFTA).

Made-in-Vietnam fabrics have been exempted from new import tariffs of Indonesia, which have been imposed on some textile products from May 2020 until November 2022.

A new trade agreement between Vietnam and Cuba officially came into force earlier this month, and is expected to help bring bilateral economic, trade and investment ties on par with their sound political relationship.

Vietnam imported 14,523 cars in the first two months of 2020, representing a year-on-year plunge of 43.7 percent, according to the Ministry of Industry and Trade (MoIT).

Indonesia exported a record 36.18 million tonnes of crude palm oil (CPO) and its products last year, from 34.71 million tonnes in 2018, according to data from the Indonesia Palm Oil Association (GAPKI).

Lao authorities have reduced import tariffs on 8,536 products from ASEAN member countries to zero percent as part of efforts to establish the ASEAN Free Trade Area.

The prices of imported automobiles in the Vietnamese market may not reduce as much as expected after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into effect on January 14, according to the Ministry of Industry and Trade.

Vietnam is facing numerous difficulties and challenges in promoting trade facilitation, said experts at a forum in Ho Chi Minh City on November 8.

Bilateral trade between Vietnam and Australia is poised to grow thanks to lower tariffs under free trade agreements, according to Vo Tan Thanh, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI).

The Vietnam-Eurasian Economic Union Free Trade Agreement (VN-EAEU FTA) has created a strong momentum for economic and trade ties among the signatories, said EAEU diplomats.

Japanese agricultural businesses are making a beeline for Vietnam since the Trans-Pacific Partnership (TPP) is set to open up their country’s market and bring import tariffs down to zero.

A trade policy forum was held in Hanoi on January 22 with a focus on the Trans-Pacific Partnership (TPP), the EU – Vietnam Free Trade Agreement and their impacts on Vietnamese small and medium firms.