The Ministry of Industry and Trade is developing scenarios to respond to the global trade war.

Speaking to Thanh Nien newspaper, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said he had requested the Ministry's Office to compile information from relevant departments and divisions to develop a response plan for the trade war.

According to Thanh Nien newspaper's investigation, immediately following Prime Minister Pham Minh Chinh 's directive at the regular government meeting in January to prepare scenarios for a potential trade war in 2025, the Ministry of Industry and Trade instructed relevant departments and agencies to urgently review, assess, and evaluate export markets and develop scenarios and solutions to proactively respond.

The units currently implementing this task include: the European and American Markets Department; the Trade Remedies Department; the Import-Export Department; the Trade Promotion Department, etc.

A leader from the Department of European and American Markets stated that the unit is compiling and updating information from trade deals, including requests to develop plans for expanding export markets for Vietnamese goods. In Europe and America, the focus will be on niche markets and untapped potential markets such as EU countries; Central Asia; and expanding into new markets in Latin American countries, especially Colombia.

Speaking to Thanh Nien newspaper , Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said he had requested the Ministry's Office to compile information from relevant departments and divisions to develop a response plan for the trade war.

The Ministry of Industry and Trade is expected to release official information on this matter on February 7th.

Source: https://thanhnien.vn/bo-cong-thuong-xay-dung-kich-ban-ung-pho-chien-tranh-thuong-mai-toan-cau-185250206224133307.htm