Japan racked up a 621 billion yen, or $4.3 billion, trade deficit in July, as prices of imports surged

Vietnamese rice now has the highest export prices, distinguishing itself from key competitors, including Thailand and Pakistan, whose prices have fallen.

India has initiated an anti-dumping investigation on certain steel products imported from Vietnam, according to a notification from the Ministry of Commerce and Industry.

Malaysia has initiated an antidumping duty investigation into coated iron or non-alloy steel flat-rolled products from China, India, Japan and South Korea, the Ministry of Investment, Trade and Industry said in a note released Aug. 14, following a petition from the domestic industry.

The United States is the country that investigates and applies the most trade defense measures to Vietnamese export goods. Vietnamese export businesses when being investigated by the US for applying trade defense measures need to pay attention to choosing the country and replacement value.

Failure to grasp and comply with the technical requirements of the importing country will create difficulties for businesses on the export path.

Vietnam’s timber export value in the first three quarters of 2024 is higher than the same period last year thanks to a positive market recovery. However, the sector is expected to continue facing external difficulties in the fourth quarter of 2024 and the subsequent year.

Two-way trade between Vietnam and the United States reached US$74.4 billion in the first seven months of the year, growing strongly in both export and import directions. With such an increasing rate, two-way trade turnover between Vietnam and the United States may soon exceed US$100 billion this year.