21 Apr '25
(Fibre2Fashion News Desk (DS): In response to the 90-day suspension of US reciprocal tariffs on all countries except China, Vietnam’s Ministry of Industry and Trade is making efforts to enhance monitoring and inspection of the origin of imported raw materials and ensure export compliance in all ways.
Trade policies of major countries are being monitored and businesses are being approached to understand their market needs and the kind of support they need from the ministry to propose appropriate response measures, a domestic news agency reported.
Insights
In response to the 90-day suspension of US reciprocal tariffs on all countries except China, Vietnam is making efforts to enhance monitoring and inspection of the origin of imported raw materials and ensure export compliance.
Trade policies of major countries are being monitored and businesses are being approached to understand their market needs and the kind of government support needed.
Trade promotion delegations are being sent to trade fairs and exhibitions to find potential partners and keep up with global trends. Vietnamese businesses are being urged to diversify their export markets, reduce dependence on the United States and explore opportunities in markets where Vietnam has signed free trade agreements (FTAs).
Financial institutions are being urged to support businesses, particularly small and medium enterprises (SMEs), in accessing credit. Departments and agencies are pursuing administrative reforms to help businesses shorten processing times and seize business opportunities, both within the country and abroad. (Source: Fibre2Fashion.com)