The Trade Remedies Authority has recommended businesses stay cautious after US President Joe Biden's announcement on June 6 on tariff exemption for solar panels imported from Vietnam, Cambodia, Malaysia and Thailand, urging them to continue to review their export of products subject to the US’s anti-circumvention investigation.

The World Trade Organization (WTO) is holding its twelfth ministerial conference from 12 to 15 June in Geneva, Switzerland, against a background of conflictual international relations. Mired in its own existential crisis, the WTO has become incapable of fulfilling the role entrusted to it when it was created in 1995 – negotiating world trade rules and resolving trade disputes. This crisis is an opportunity to rebuild a WTO that supports ecological transition, decent work and the fight against pandemics.

The COVID-19 pandemic which broke out over two years ago has dealt a heavy blow to the global economy, whilst the Vietnamese economy, which boasts a high level of openness, has also suffered profound consequences.

Vietnam reported a year-on-year surge of 23.5 percent in exports of textile and garment to earn 18.7 billion USD in the first five months of this year in the midst of lingering market uncertainties coupled with rising prices of inputs.

In just over two months, the world food situation has gone from bad to worse. Calls to not panic fell on deaf ears, even as the Ukrainian military put up stiff opposition to the Russian onslaught. If Ukraine somehow wins the war, it will be decades before its economy and agricultural exports return to their previous levels.

Most German firms plan to continue operating in Vietnam

Combating inflation has been on President Joe Biden’s mind lately. But any mention of the high tariffs on Chinese imports that he inherited from the Trump administration has been critically absent from these discussions.

Two heavyweight reports on prospects for the world economy make grim reading, highlighting the devastating effect of the war in Ukraine on top of the damage wrought by the pandemic.

Vietnam is again in the spotlight after Apple’s move to shift production activities to this Southeast Asian country, according to TRT World page of Turkish Radio and Television Corporation.

US President Joe Biden on June 6 announced a 24-month tax exemption for solar panels imported from four Southeast Asian countries, including Vietnam, to promote clean energy production in the country.