U.S. President Donald Trump said on Thursday his hard-fought trade deal with China was now of secondary importance to the coronavirus pandemic and he threatened new tariffs on Beijing, as his administration crafted retaliatory measures over the outbreak.

As global supply chains for Halal products have been disrupted by the pandemic, Vietnamese companies have been urged to further tap the halal market which has export value of US$34 billion a year, experts said at an online seminar on Tuesday (Apr 28).

The wood industry needs a fundamental change in export product lines and markets after the COVID-19 pandemic ends, a top wood official has said.

Experts have said that once the coronavirus (COVID-19) pandemic ends, higher market demand would support many sectors in quickly resuming their business.

The initial instinctive reaction to the COVID-19 crisis by most countries was to look inwards and act alone. As a result, borders have closed, supply chains have been disrupted, and regional economic activity has fallen.

The Regional Comprehensive Economic Partnership (RCEP) remains on track to be signed by the end of 2020, said Singapore’s Trade and Industry Minister Chan Chun Sing on May 3.

Tourism ministers of the 10 member states of the Association of Southeast Asian Nations (ASEAN) agreed on Wednesday to deepen tourism cooperation so as to mitigate the effects of Covid-19 on the sector.

The Industry and Trade Ministry will promote the restructuring of industrial production sectors, especially the support industry, due to difficulties in production during the novel coronavirus (COVID-19) pandemic.

Expanding the domestic market is currently the direction of many Vietnamese enterprises amid the context of the Covid-19 pandemic. When the export situation has not improved, many enterprises have posted significant growth in the domestic market in the past four months.

The EU-Việt Nam Free Trade Agreement (EVFTA) is expected to bring great opportunities for many economic sectors, including seafood, footwear and textiles. However, Việt Nam's goods will face many anti-dumping lawsuits and trade remedies imposed by importing countries.