Since April, due to the impact of US tariff policies, Vietnamese wood and handicraft export businesses have faced new challenges. However, most businesses are not passively waiting, but are proactively connecting with US partners in various ways to seek new opportunities. A notable event is currently taking place in High Point, North Carolina – the largest furniture exhibition in the US, with active participation from Vietnamese businesses.
The exhibition booth for Vietnamese wood and handicraft businesses at High Point spanned nearly 400 square meters. Following the opening ceremony, a memorandum of cooperation was signed between the Trade Promotion Department of the Ministry of Industry and Trade and Wayfair Corporation of the United States, regarding the sale of Vietnamese wood and handicraft products on their e-commerce platform.
Mr. Niraj Shah, Chairman of Wayfair Group, USA, said: "Customers really love the products here. I believe it will be a great addition to our product portfolio and will be well-received by consumers. Having more Vietnamese businesses participate, creating more choices for buyers, is very important."
The Vietnamese booth was open from October 24th to 29th, and businesses took advantage of this opportunity to meet old partners, find new customers, introduce new products and technologies in the furniture industry, and also to adapt together to changes in US tariff policies.
Brian Beane, President of VM International LLC, USA, said: "Of course, there are times when we see a drop in trading volume, but even when things seem chaotic, there are still opportunities. So, you know, we feel we've chosen the right time and everything will still go according to plan."
"When we prepare for differentiation, even with taxes, consumers will accept it, and Vietnamese businesses are now looking for ways to improve their supply chains to lower costs as much as possible," said Mr. Tran Lam Son, Vice Chairman of the Ho Chi Minh City Handicraft and Wood Processing Association.
The US is currently the largest export market for Vietnam's wood industry. In the first eight months of this year, exports of wood and wood products from Vietnamese businesses to the US market reached $6.2 billion, accounting for 55.8% of the total export value of this product category.
However, the imposition of retaliatory tariffs and the US launching anti-dumping investigations into Vietnamese plywood are forcing businesses to adapt quickly to maintain their market position.
Source: https://vtv.vn/doanh-nghiep-go-viet-tim-huong-di-moi-tai-thi-truong-my-100251026101313215.htm
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