China has insisted that all tariffs on Chinese imports added by the United States during the trade war must be scrapped immediately as part of any deal to end the year-long conflict, which would require the Trump administration to give up its position that some levies remain in place even after an agreement is reached.
Vietnam is determined to tackle U.S. concerns about steel exports at the center of a new tariff row, its finance minister said on Thursday (4/7).
The U.S. Commerce Department imposed duties of more than 400% on steel imports from Vietnam, accusing some businesses of shipping products from the Southeast Asian nation to evade the levies in a further escalation of tension between the two trading partners.
The United States welcomed the Association of Southeast Asian Nations (ASEAN) Outlook on the Indo-Pacific adopted during a leader's summit in Thailand's capital city Bangkok on June 23.
The International Labour Organisation (ILO) has welcomed the signing of the EU-Việt Nam free trade agreement (EVFTA) on 30 June in Hanoi, which promotes the respect for fundamental labour rights as a basic condition for fair international trade.
Việt Nam’s free trade agreement with the EU would go a long way towards tapping the trade potential that exists with Poland, experts have said at a conference last week in HCM City.
The European Union signed a trade deal with Vietnam on Sunday, underscoring the bloc’s commitment to opening up its market and trading freely in the face of rising protectionism and trade tensions around the world.
President Donald Trump is in the middle of a trade war with China, with the administration having levied a tariff of 25% on $200 billion worth of Chinese imports.
Vietnam has removed tariffs on several products including fruit and frozen foods imported from six CPTPP signatories.
Vietnamese exporters have been urged to prepare for any trade-related lawsuits and disputes arising from the escalating US-China trade war amid concerns that the two major powers will not reach an agreement at a meeting in Japan this month.
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