Vietnam will continue talks with the United States to finalise a trade agreement between the two countries, the Southeast Asian country's government said on Thursday, as U.S. President Donald Trump's new tariffs took effect.

Tougher U.S. trade penalties on goods originating in one country being re-shipped from another are not expected to immediately follow new U.S. tariffs, three people in Southeast Asia with knowledge of the matter said, easing a major cause of concern.

Vietnamese businesses are adapting to new US tariffs by investing in local supply chains, exploring new export markets, and innovating to maintain competitiveness in a challenging global landscape.

The Trump administration has been talking to drugmakers about ways to raise prices of medicines in Europe and elsewhere in order to cut drug costs in the United States, according to a White House official and three pharmaceutical industry sources.

U.S. President Donald Trump's higher tariffs on imports from dozens of countries kicked in on Thursday, raising the average U.S. import duty to its highest in a century and leaving major trade partners such as Switzerland, Brazil and India hurriedly searching for a better deal.

Industry representatives warn of job losses and say decision could be ‘nail in the coffin’ for those exporting to the US.

Vietnam has outranked Thailand as the world’s second-largest rice exporter in the first half of 2025, Thai PBS reported on August 3, citing the Thai Rice Exporters Association.

In the picture of Vietnam's agricultural exports, pineapple is emerging as a product with great potential, both in fresh and processed form.

Amid rising global protectionism, Vietnam’s wood sector takes proactive steps to protect exports and meet its USD 18 billion target by 2025.

Seafood exports are expected to face numerous challenges in the second half of this year, particularly due to US tariffs and raw material shortages.