Vietnamese Prime Minister Pham Minh Chinh has ordered the Ministry of Industry and Trade to continue tariff negotiations with the United States.

Economists prefer free trade because it is the best policy for global welfare. But what the debate around tariffs often fails to recognize is that there is an economic rationale for U.S. tariffs of 15 to 20 percent.

While the US's new tariff policies have placed certain Vietnamese exports under pressure, the changes are also prompting companies to rethink strategies, diversify markets, and break free from over-reliance on any single destination.

The reciprocal tariff rate for Vietnam was reduced from 46% to 20%. This change is said to cause Vietnam’s exports to the US market to decline by 9–10% in value.

Switzerland’s economy unexpectedly grew in the second quarter, maintaining some momentum before the country was hit with one of the highest US tariff rates.

India, the world's second-biggest producer of crude steel, has imposed anti-dumping duty on some steel shipments from Vietnam, the Ministry of Commerce and Industry said.

Building a map for durian-growing regions suffering cadmium contamination is a key solution for ensuring food safety and meeting the requirements of foreign markets to sustain exports, according to director of the plant production and protection department, Huỳnh Tấn Đạt.

Expanding market reach is now a matter of survival for Vietnamese enterprises amid fierce competition and disruptions in global supply chains, experts said at a business forum held in Hanoi on August 14.

Starting August 7, a 20% tariff combined with a series of technical barriers is putting heavy pressure on Vietnamese exports to the United States, forcing businesses to restructure production and business models to adapt.

Vietnam’s average export price for rice currently stands at 514 USD per tonne. Although this is lower than in recent years, it remains higher than that of other suppliers, he said, noting that the global rice market is experiencing oversupply.