In response to U.S. reciprocal tariffs, some Vietnamese wood manufacturers are considering producing on the American soil, said Ngo Sy Hoai, vice chairman and general secretary of the Vietnam Timber and Forest Products Association (Viforest).

U.S. President Donald Trump said on Friday he would announce tariffs on imports of steel and semiconductor chips in coming weeks.

The US side argues that the DSA imposes costs on US technology companies, but the European Commission has declared that loosening these regulations is an unacceptable "red line".

LEFASO General Secretary Phan Thi Thanh Xuan said that due to major changes in tariff policies, market diversification is one of the goals of the Government as well as the footwear industry.

British Prime Minister Keir Starmer declared at a Jaguar Land Rover factory in May that his world-leading trade deal with US President Donald Trump included a cut in US tariffs on British steel to zero.

Vietnam officially imposed anti-dumping tax on some Chinese galvanized steel products at the highest level of over 37%.

Vietnamese bananas have surpassed those from the Philippines to claim the largest market share in China.

Since July, exports from several sectors to the US have slowed as American buyers tighten orders and ask Vietnamese businesses to share the burden of the 20% reciprocal tariff.

Analysts want Canada to review its own tariffs on Chinese electric vehicles.

As one of the important factors determining quality, price and competitiveness, raw material sources are becoming the biggest bottleneck hindering the growth of the handicraft industry.