Vietnam stands ready to import more farm products from the United States, according to a statement from trade minister Nguyen Hong Dien on Friday, a day after U.S. President Donald Trump said he would start imposing global reciprocal tariffs.

Lao Prime Minister Sonexay Siphandone on February 14 held a meeting with a delegation of Vietnamese businesses and international enterprises from various countries, led by Nguyen Hong Hue, Chairman of the Business Association of Overseas Vietnamese.

The project is designed to accelerate the development of a low-carbon economy and address climate change, working toward the goal of achieving net-zero emissions by 2050. From 2029, the carbon market will be officially operated nationwide.

By 2030, Việt Nam aims to produce 20 per cent of the raw materials needed for pharmaceutical production, meeting 50 per cent of the demand for functional food and cosmeceutical ingredients domestically.

Việt Nam will end a previous policy that exempted imported goods valued under VNĐ1 million (US$39.4) from taxes when shipped via express delivery

President Donald Trump ordered his administration to consider imposing reciprocal tariffs on numerous trading partners, raising the prospect of a wider campaign against a global system he complains is tilted against the US.

The European Union hopes to avert a damaging trade war with the US over impending metals tariffs by prioritising negotiations rather than retaliatory countermeasures, EU officials signalled on Wednesday.

Through tariffs, President Trump may inadvertently pave the way for a reordering of trade relationships and the emergence of new economic blocs.

In response to the European Union’s Regulation on Deforestation-Free Products (EUDR), the Vietnamese coffee industry faces the urgent need to adapt in order to maintain and expand its market share in the Nordic region, which has stringent sustainability standards. This presents both a challenge and an opportunity for Vietnamese enterprises to establish their position in the global supply chain.

The aluminum and steel industries are undergoing significant market adjustments to adapt to evolving industry dynamics.