Experts held that businesses should seek new export markets and expand the domestic market, while viewing this challenge as an opportunity to restructure and redefine Vietnam's position in global trade, particularly in the US market.

The Ministry of Agriculture and Environment has rolled out eight key tasks and solutions to grow the sector by at least 4 per cent this year.

The escalating trade war between the US and China saw President Donald Trump raise tariffs even further on small parcels that were until now exempt from taxes.

According to the Ministry of Agriculture and Environment, in the first quarter of 2025, Vietnam exported 2.2 million tonnes of rice, reaching a revenue of 1.14 billion USD, up 0.6% in volume but down 19.7% in value compared to the same period in 2024.

In response to the recent upheaval in global trade, following US President Donald Trump’s announcement of a new retaliatory tariff policy on April 3, the Ministry of Agriculture and Environment convened an emergency meeting, both in person and online, with businesses and industry associations to identify immediate and long-term solutions to maintain and boost export momentum.

Generating tens of billions of dollars in export revenue, Vietnam’s wood industry is now bracing for a tariff storm, as the United States is set to impose a 46% reciprocal tariff on Vietnamese goods.

President Donald Trump is set to impose an astounding 104% in levies across all Chinese imports on Wednesday (April 9), White House Press Secretary Karoline Leavitt announced on Tuesday. This comes on top of Chinese tariffs that were in place prior to Trump’s second term.

President Donald Trump threatened to slap additional 50% import taxes on China, while readying negotiations with Japan and Israel, leaving markets struggling to grasp his intentions for his sweeping tariff plans.

China retaliated against Donald Trump’s latest tariffs with commensurate levies on all American goods and export controls on rare earths, dealing a fresh blow to global markets and prompting the US president to quickly deride Beijing’s reaction as the “wrong” move.

The European Union (EU) needs to be open to all potential means of retaliation against US tariffs, according to Spanish Minister for Economy, Trade and Business, Carlos Cuerpo.