Negotiations for new trade deals, including rice agreements, will be accelerated alongside efforts to fully utilise 17 existing free trade agreements to achieve an export growth target of 12 per cent this year, according to the Ministry of Industry and Trade.

The US tariff exemption for package shipments valued under US$800 (RM3,267) ends permanently on Friday, with a six-month transition period under which postal service shippers can opt to pay a flat duty of US$80 to US$200 per package.

The tariff imposition could cause a double shock for Việt Nam’s steel industry.

Vieira announced that he will bring up the proposal for FTA negotiations at the next MERCOSUR meeting in early September.

Vietnam spent nearly 2.6 billion USD on livestock imports in the first seven months of this year, up almost 23% compared to the same period in 2024.

The European Commission proposed on Thursday removing duties on imported US industrial goods in return for reduced US tariffs on European cars, a key part of the trade agreement the EU and the US struck last month.

Russia-China trade, which soared to record levels as the war in Ukraine left Moscow isolated, is now falling, a trend President Vladimir Putin is seeking to reverse as he prepares for a summit with President Xi Jinping, three Russian sources said.

Brazil's Foreign Ministry has ordered government trade body Camex to start analyzing whether a local reciprocity law could be used against the United States, two sources from the ministry said on Thursday.

Indian businesses are looking to expand production in Africa for exporting to the US, after President Donald Trump hit the South Asian nation with one of the steepest levies globally as punishment for purchases of Russian oil.

US tariff exemption on packages worth $800 or less due to end this week.