The Global Trade Pulse 2025 survey gathered insights from over 5,700 businesses across 13 markets, with revenues ranging from 50 million USD to 2 billion USD, including 250 firms operating in Vietnam.
Thailand is among the Southeast Asian nations hardest hit by measures introduced by US President Donald Trump, facing a tariff of up to 36% on its exports if a reduction cannot be negotiated before a global moratorium expires in July.
ASEAN members have agreed that they should work together by leveraging their own strengths to seek the best common result in response to uncertainties surrounding the US tariff policy.
At the meeting in Washington, D.C. on April 24, Hartarto reiterated Jakarta’s commitment to addressing the US trade deficit with Indonesia, the Indonesian media reported.
US Trade Representative Jamieson L. Greer and Vietnamese Minister of Industry and Trade (MOIT) Nguyen Hong Dien agreed on the importance of making swift progress towards reciprocal and balanced trade between the US and Vietnam.
Coordinating Minister for Economic Affairs Airlangga Hartarto on April 18 said Indonesia has proposed increasing its imports from the US by as much as 19 billion USD, to eliminate its trade surplus with Washington.
According to the Latin American outlet, the most outstanding achievement in the recent intensive negotiation days was Vietnam’s special task force convincing the US side to agree to begin negotiations on a bilateral trade agreement, an issue Washington had previously avoided on numerous occasions.
In line with the spirit of the Comprehensive Strategic Partnership, Vietnam will negotiate with the US a reciprocal trade agreement based on mutual respect, aiming to achieve proper solutions towards fair and sustainable trade that benefit the people and businesses of both countries, Hang said.
As the US market accounts for 30% of Vietnam's total export turnover, the imposition of a reciprocal tariff of up to 46% will heavily impact many industries in Vietnam.
In a letter sent to US President Donald Trump, Cambodian Prime Minister Hun Manet requested negotiations after the US imposed a 49% tariff on products from Cambodia, urging Trump to postpone the tariff implementation.
Vietnam will continue to coordinate and engage in discussions with the US in a constructive and cooperative spirit to find practical solutions that contribute to the stable and sustainable development of bilateral economic relations, ensuring the interests of businesses and people in both countries
Vietnam’s aquatic exports are expected to exceed the annual target of 10 billion USD on the back of strong demand from major markets, according to Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
Although the EU-Vietnam Free Trade Agreement (EVFTA) appears to be a boon for Vietnamese pepper, expanding market reach in Europe requires much more than FTA-induced tariff advantages.
Philippine President Ferdinand Marcos Jr. has approved the recommendation of the economic ministry to extend tariff reductions on rice and other food items until the end of next year to curb inflation.
Vietnam is anticipated to enjoy the highest trade and income gains among members of Regional Comprehensive Economic Partnership (RCEP), according to a latest World Bank report.
The Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade pact, will reduce tariffs and harmonise trade rules, and Singapore and regional nations stand to gain from it by being more deeply plugged into global supply chains.
After the UK-Vietnam Free Trade Agreement (UKVFTA) took effect on December 31, 2020, both sides saw impressive growth in their two-way trade though exports faced formidable challenges caused by the COVID-19 pandemic.
The United States suspended tariff privileges under the Generalised System of Preferences (GSP) on 573 Thai products from April 25 as originally scheduled.
The Comprehensive Partnership and Trans-Pacific Progress Agreement (CPTPP) will eliminate and reduce tariff barriers on Vietnam’s goods exports to 10 CPTPP member countries.
