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Thai Nguyen Rolling Steel Plant in Steel Production On April 2, US President Donald Trump signed an executive order imposing reciprocal tariffs on over 180 economies, with Vietnam facing a 46% rate. Notably, Vietnamese steel has been excluded and is already subject to a 25% tariff since 2018 under Section 232 of the US Trade Expansion Act. The Trump administration aims to maintain stable tax policies on strategic metals, which are essential for key US industries. This decision avoids “double taxation” and keeps costs down for American consumers. However, it creates a complex scenario with both opportunities and challenges for Vietnam’s steel sector. In 2024, Vietnam exported nearly 13 million tonnes of steel, worth 9.08 billion USD, according to the Vietnam Steel Association (VSA). The US was the third-largest market, accounting for 14% of total exports, after ASEAN and the EU. This highlights the significance of the US market for Vietnam’s steel industry. While the US re...

On April 1, 2025, Minister of Industry and Trade Nguyen Hong Dien chaired a pivotal meeting shortly after his US trip as the Prime Minister’s Special Envoy. The agenda focused on drafting a decree on strategic trade control, and the minister’s leadership accelerated its publication on the ministry’s website and the government’s e-portal for public feedback. This swift action showcases the trade policy enforcement agency’s efficiency and underscores Vietnam’s strategic vision, proactive spirit, and international responsibility amidst a shifting global trade order. Minister Nguyen Hong Dien chairs the meeting on the draft decree – Photo: PV Urgent and Necessary Action Minister Dien emphasized the urgency of this decree, stating, “As Vietnam forges ahead with building a modern, sustainable, and highly competitive economy, this decree is of paramount importance.” With global supply chains in flux and high-tech investments surging in Vietnam across sectors, a legal framework ...

Addressing the News9 Global Summit, Prime Minister Modi emphasized the strong partnership between India and Germany, calling it a “responsible partnership” that is vital for sustainable growth. “The theme of this Summit, ‘India – Germany: A Roadmap for Sustainable Growth,’ symbolizes the joint commitment to fostering a sustainable and prosperous future for our nations,” Modi stated. He continued by highlighting the strategic importance of Europe to India, particularly in terms of geopolitical relations, trade, and investment. In this regard, Germany stands as one of India’s most valued partners. The year 2024 marked a significant milestone as it celebrated 25 years of the Indo-German strategic partnership. This anniversary was made even more special by German Chancellor Olaf Scholz’s visit to India in October. During his visit, the Asia-Pacific Conference of German Businesses was organized in Delhi, where Germany unveiled the ‘Focus on India’ document. Additionally, the S...

A number of floating markets are in danger of fading into obscurity as boat, vendor, and buyer numbers dwindle, resulting in a decline in trade. As a director of a hospitality services company in Phong Dien District, Can Tho City, Martin Stiermann, a German national, shared his insights and recommendations with Tuoi Tre (Youth) newspaper on how to restore the bustling atmosphere of the floating markets in the Mekong Delta. “I’ve noticed the changes in Cai Rang Floating Market over the years,” he said. At a conference several months ago, I suggested that the floating market should not be enclosed by concrete. However, the construction of a high anti-erosion embankment has now deterred boats and traders from coming.” The decreasing number of boats at the floating market has led to a less vibrant trading environment and a subsequent drop in tourism. While Cai Rang Floating Market, one of Can Tho City’s main attractions, has undergone significant changes, Phong Dien Floating Market c...