Timber companies in Vietnam: deliberate to make use of the opportunity Significant implications for the timber market Starting from mid-September 2018, the US decided to impose 10 per cent tariffs with the total cost of $189 billion on Chinese goods, including wood products. The tariff will be increased to 25 per cent on January 1, 2019 and possibly reach 44 per cent if the two countries do not resolve the trade war. According to To Xuan Phuc, senior policy analyst from Forest Trends (a non-profit organisation based in Washington, DC whose mission is to conserve forests and other ecosystems), the US-China trade war will definitely affect the Vietnamese wood processing industry. In its report on the Vietnam-China import and export turnover of wood and timber products, Forest Trends indicated that in the first half of 2018, Vietnam’s total sawn timber exports to China were only 88,800 cubic metres (cu.m), much lower than the 178,200cu.min the same period of 2017. Regarding sawn rubber wood exports to China alone, the figure in the first six months was 2,500cu.m, equivalent to 1 per cent of the total export volume in 2017. Foreign partners often place orders at least six months in advance, however,… Read full this story
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