Viet Nam News Outside Looking In Brian Spence* The threat of a trade war between the US and China has created considerable volatility in Asian markets in recent weeks. Investors fear that it poses a continued threat to the growth of Vietnamese companies and, potentially, to Vietnamese economic growth. These concerns are valid, but to my mind, demand greater scrutiny. An important point to note is that this volatility may feel uncomfortable, but it is not unusual. It comes after a sustained benign period in markets and volatility levels have only moved back to where they were in mid-2016 and remain at around half of their five year peak. While periods of low volatility are enjoyable while they last, the volatility we’re seeing today is a more normal pattern for stock markets. However, that doesn’t mean that we shouldn’t examine the underlying causes of that volatility. In this, we can place the blame squarely at the mounting trade war between the US and China. … [Read more...] about Should trade tariffs matter to investors in Việt Nam?
A British exit from the European Union would be poison for the economies in Europe and there would only be losers if Britain decided to leave the 28-bloc this week, the head of Germany's BGA trade federation said on Monday. "A Brexit would lead to uncertainty and a loss of trust over several years. This is poison for the economy in Britain, but also for Europe as a whole," Anton Boerner said during a news conference. "Nobody will benefit from an exit. On the contrary, it would be a catastrophe for everybody and especially for us in Germany. There will be no winners, but only losers." He said Brexit would create huge uncertainty for companies, adding that negotiations between Brussels and London on their future relationship would take at least two years. The result could be higher trade tariffs, new rules for market access and more bureaucracy for firms, he warned. A British exit from the European Union would likely lead to higher trade tariffs, reducing German exports and knocking half … [Read more...] about Brexit would be a ‘poison’ for economies in Europe: German trade body
The Hanoitimes - Vietnamese Minister of Industry and Trade Vu Huy Hoang and his Lao counterpart Khemmani Pholsena signed a new cooperation agreement on March 3. Tariffs are scheduled to be eliminated on more than 95 percent of goods from Vietnam and Laos. Thu Minh … [Read more...] about Vietnam and Laos to abate trade tariffs for 95 percent of goods
The new tariffs, 23.3 percent for steel billets and 14.2 percent for steel rods, will take effect this March 22 and end as late as October 7. They, however, will not be applicable for products from developing countries such as Cambodia and Indonesia, whose steel exports to Vietnam account for less than 3 percent of the country's total imports. Vietnam is already imposing trade tariffs of up to 20 percent to these products. The ministry said it will continue with an investigation launched at the end of last year into possible injury caused by steel imports. Initial findings suggested that the recent surge of imports has caused "serious damage" to local production of steel billets and rods, according to the ministry's latest announcement. Imported steel billets have undercut local products since 2014, especially after prices of imports were lowered by 30 percent last year, it said. Local producers posted "near zero" profits last year as they had to sell their products cheap, the … [Read more...] about Vietnam slaps new tariffs on steel imports to protect local industry
VietNamNet Bridge – Nguyen Thi Thu Trang, director of the WTO Centre, under the VCCI, spoke to the newspaper Hai Quan (Customs) on the need to use protectionism in international trade. What are your assessments on Vietnamese enterprises' use of trade protectionism tools? The Viet Nam Chamber of Commerce and Industry has launched a study on Vietnamese enterprises' use of trade protectionism tools, including measures on anti-dumping, subsidising and protectionism. Results of that study showed that Vietnamese enterprises had used those tools only four times. Only one case was on anti-dumping while the others were against protectionism. Meanwhile, foreign companies on 70 occasions petitioned their Vietnamese enterprises on anti-dumping, 17 cases on trade protectionism and 7 cases on anti-subsidising abroad. These figures show that the use of protectionism tools by Vietnamese enterprises is still very modest. Don't you think that these figures are an indication that foreign … [Read more...] about VN firms must learn trade rules