The United States is the largest market for Vietnam’s exports in the first five months of this year, generating an export revenue of US$22.6 billion, up 28% year-on-year. Some exports with the highest growth are smart phones and parts, with 109.2%; electronics, computers and parts 58.4%; and textiles and garments 9.8%. (Photo: Saigon Times) Under the impact of the U.S.-China trade war, Chinese goods are subject to high U.S. tariffs, leaving room for enterprises from other countries, including Vietnam, to penetrate the U.S. market. At present, Chinese leather products, shoes and handbags are not yet put in the group of commodities subject to a 25% U.S. tariff. However, Diep Thanh Kiet, vice chairman of the Vietnam Leather, Shoe and Handbag Association (Lefaso), said many big international footwear companies have contacted Lefaso members for a shift of U.S.-bound orders from China. Vietnam currently exports US$4 billion worth of footwear to the U.S. after China, with … [Read more...] about Potential risks for exports to U.S.
U s athletic footwear market
U.S. Federal Reserve Chairman Jerome Powell said Wednesday that crosscurrents such as trade tensions and concerns about global growth have been weighing on the U.S. economic activity and outlook. U.S. Federal Reserve Chairman Jerome Powell prepares to testify before the House Financial Services Committee on the state of the U.S. economy on July 10 - Source: Xinhua In his prepared remarks to lawmakers at the House Committee on Financial Services, where he testified on the Semiannual Monetary Policy Report, Powell said many participants of the Fed's Federal Open Market Committee (FOMC) "saw that the case for a somewhat more accommodative monetary policy had strengthened." Powell said Fed officials were mindful of ongoing crosscurrents from global growth and trade at the May FOMC meeting, adding that since then "these crosscurrents have re-emerged, creating greater uncertainty." "Apparent progress on trade turned to greater uncertainty, and our contacts in business and … [Read more...] about Fed”s Powell says trade tensions weigh on U.S. economy
Illustration photo The U.S. Department of Agriculture reported that the country spent US$ 2.35 billion to import 1.04 million tons of avocados in 2018. Over 51% of U.S. households consume avocados and they spend US$ 24.5 per year. The Viet Nam Commercial Branch in San Francisco (the U.S.) said that avocados are consumed in big markets with high quantity and require high standards. Enterprises were asked to extremely attach importance to food hygiene as avocados are instant fruits. To enter the U.S., avocados must meet regulations on ripeness, color, and weight. Viet Nam has various types of avocados with year around harvesting cultivation. However, commercial value of Vietnamese avocados remains modest due to the lack of technological application and geographical indication trademarks, and fragmented production scale. By Kim Loan … [Read more...] about Avocados look to U.S. market
U.S. is largest market for Vietnamese shark catfish The Viet Nam Association of Seafood Exporters and Producers (VASEP) has projected that catfish export revenues in 2019 could continue to remain high at around US$2.2 billion. VASEP Deputy General Secretary Nguyen Hoai Nam stated that such a performance came as a result of years of efforts to build brands and improve quality. According to many experts, the U.S.-China trade conflict is producing a positive effect on certain Vietnamese exports, including shark catfish. In addition, when the Viet Nam-EU free trade agreement is signed, Viet Nam’s shark catfish exports to the EU could also be boosted as a result of tariff elimination for both raw and processed fish. Viet Nam’s General Directorate of Fisheries is working with enterprises to further enhance the quality of catfish fillets so as to bolster exports. However, challenges remain while Vietnamese catfish continue to face import restrictions … [Read more...] about U.S. is largest market for Vietnamese shark catfish
As recorded at the corner of a large supermarket in California, the U.S., many indigenous people looked satisfied when trying the products of a Vietnamese coffee brand. “One of the reasons why I like Vietnamese coffee is that it contains just enough sugar, cream and coffee. A perfect mix,” said Rimon Naji, a customer who tried Vietnamese coffee. Vietnamese coffee products on the shelves were of different types, from the “Western style” such as soluble Expresso to the “3 in 1” coffee that Asian people prefer or filter coffee for people of Vietnamese descent. The vast U.S. market with various ethnics and groups of customers is both opportunities and challenges for Vietnamese coffee. Le Hoang Diep Thao, Founder and General Manager of King Coffee, said: “In the U.S. market, we must strive to understand the local people to introduce the most suitable products to them”. Diverse products and reasonable prices … [Read more...] about Vietnamese coffee penetrates into the U.S. market