U.S. President Donald Trump's decision to impose reciprocal tariffs sent shockwaves through the global economy, with consequences far beyond the usual economic impacts.

The US decision to temporarily suspend the 46% tariff on Vietnamese imports for 90 days has received positive reactions from the business community and economic experts. However, some analysts remain concerned about whether Vietnam can fully capitalize on the opportunity.

Vietnam supports ASEAN’s comprehensive, flexible, and practical approach to enhancing economic resilience and promoting supply chain diversification through the effective utilisation of free trade agreements (FTAs), he affirmed.

Vietnamese Deputy Minister of Foreign Affairs Do Hung Viet and Owen Jenkins, Director General for Indo-Pacific, Middle East and North Africa at the Foreign, Commonwealth & Development Office (FCDO) of the UK, co-chaired the 4th ASEAN-UK Senior Officials’ Meeting (AUKSOM) in the central city of Da Nang on April 10.

Exports were valued at 102.8 billion USD in Q1, while imports increased 17% to 99.68 billion USD, signalling rising demand for production inputs.

Vietnam and the United States have agreed to begin negotiations on a bilateral trade agreement, which will also include tariff discussions, a key pillar of the proposed agreement.

In order to draw more FDI, experts underlined the need for Vietnam to take comprehensive measures, including stronger reforms in all fields.

Vietnam’s fisheries sector has achieved several positive outcomes in the early months of the year. Despite facing unpredictable market fluctuations, the industry remains optimistic about new export opportunities thanks to ongoing efforts to innovate production methods towards greener practices, focus on product value, and ensure quality and food safety.

As China halts timber imports from the US, Việt Nam eyes an opportunity to boost its own timber intake for processing and re-export — reinforcing its position as a key player in the global wood furniture market.

Việt Nam and Russia are positioned to take advantage of growing opportunities for economic and trade cooperation, as highlighted by the Việt Nam Trade Office in Russia.