The trade turnover between Vietnam and the United States have significantly decreased during the first four months of the year, according to the Ministry of Industry and Trade,

Specifically, the country’s exports to the demanding market in the reviewed period fell 21% to US$28.45 billion on-year, accounting for 26% of total export turnover while the import turnover of goods from the US also dropped 11.9% to US$4.08 billion.

With the export of several agricultural products such as rubber, coffee, and pepper gradually recovering, there remains a positive outlook ahead for export growth to major markets in the second quarter of the year, according to details given by the Ministry of Industry and Trade.

Statistics from the China Customs indicated that Chinese rubber imports from the country in the first quarter of the year reached 416,520 tonnes worth US$562.66 million, representing a rise of 15.2% in volume.

A Vietnamese diplomatic delegation on Saturday afternoon visited a Russian market and met with overseas Vietnamese traders there to be briefed on their business performance, which has been negatively affected by an economic slowdown in Russia.

The US Department of Commerce (USDOC) extended the deadline to issue its final determination of an anti-dumping (AD) duty circumvention investigation on stainless steel round wire from Vietnam to May 24, 2023.

US and EU continuing to experience high inflation and slowing real estate markets.

According to a notice on May 1, 2023, the US Department of Commerce (USDOC) launched the first sunset reviews of the anti-dumping (AD) and countervailing duty (CVD) orders on stainless steel flanges from China and India.

The Government requested to research and simplify administrative processes as much as possible or consider applying priority import and export processes to support businesses in optimizing time and costs.

On the global map of herbs, Vietnam is assessed to possess a diverse source and its proportion of rare and precious natural medicinal herbs remain quite high, said Tran Minh Ngoc, deputy head of the Ministry of Health’s traditional medicine management department.