On May 12 and 13, 2022, U.S. President Joe Biden hosted the first-ever U.S.-Association of Southeast Asian Nations (ASEAN) special summit at the White House, where ASEAN leaders and President Biden convened to discuss a range of issues.

In the first 4 months of 2022, Vietnam’s exports of seafood products reached nearly 3.65 billion USD, a sharp increase of 46.8% compared to the same period of 2021.

Vietnam’s e-commerce market has recorded strong growth over the years and is likely to bring in US$39 billion in value by 2025, according to data released by the German market research firm Statista.

Steel production at Việt-Đức Steel JSC's factory in Vĩnh Phúc Province. Việt Nam mainly ships iron and steel to Laos. — VNA/VNS Photo Nguyễn Trọng Lịch

In 2020, Vietnam overtook China as the largest woodwork supplier of the United States, which is the world’s biggest woodwork consumer. The U.S. market, accounting for more than half of Vietnam’s total woodwork exports, has continued awarding orders to producers in Vietnam.

The spice market worldwide is worth $19 billion, but Vietnamese companies have only a small market share. In 2004, Ong Thi Kim Ngan, deputy director of Thanh Ha Fish Sauce, attended international trade fairs to introduce Phu Quoc fish sauce, a specialty of the family-run company.

As the world’s trade ambassadors gird their loins for the upcoming 12th Ministerial Conference (MC12) in Geneva, I did a quick search on the World Trade Organization website to discover what they hope to deliver.

In light of high inflation and rising prices, the Biden administration announced it’s considering dropping its current tariffs on Chinese imports to ease inflationary pressures. The tariffs have indeed hurt both U.S. industry and workers. Another consequence of the U.S. imposed tariffs is that they invited retaliatory tariffs, primarily from China, on U.S. exports. Retaliatory tariffs have further hurt American firms and workers, with certain geographies and industries bearing the brunt of the impact.

The EU-Vietnam Free Trade Agreement (EVFTA) has opened up unprecedented opportunities for Vietnamese rice. Thanks to the preferential tariffs, the exports of fragrant rice and high-quality rice to the European market (EU) is highly appreciated and gives positive results.

Canada has risen to become the second largest importer of Vietnamese tra fish (pangasius) within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to the Vietnam Association of Seafood Exporters and Producers (VASEP).