Vietnamese wood enterprises seek new directions in the US market

Since April, due to the impact of the US tariff policy, Vietnamese wooden furniture and handicraft exporting enterprises have encountered new challenges, but most of them have not sat back and waited, but have proactively connected with US partners in one way or another to seek new opportunities. A notable event is taking place in High Point, North Carolina - the largest wooden furniture exhibition in the US, with the active participation of Vietnamese enterprises.

The booth of Vietnamese wooden furniture and handicraft enterprises at High Point is nearly 400 square meters wide. After the opening ceremony, a memorandum of understanding was signed between the Trade Promotion Agency, Ministry of Industry and Trade and the American Wayfair Group, on the sale of Vietnamese wooden furniture and handicraft products on this e-commerce platform.

Mr. Niraj Shah - President of Wayfair Group, USA said: "Customers really love the products here. I believe that it will be a great addition to the product portfolio that we provide and will create a response from consumers. Having more Vietnamese businesses participating, creating more choices for buyers, is important."

The Vietnamese booth opened from October 24 to 29, and businesses took advantage of this opportunity to meet old partners, find new customers, introduce new products and technologies in the furniture industry, and adapt together to changes in US tariff policies.

"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 like we've picked the right time and everything will still go according to plan," said Brian Beane, president of VM International LLC, USA.

"When we are ready to make a difference, even if there is a tax, consumers will accept it and Vietnamese businesses are now also looking for ways to perfect the supply chain, to reduce costs as much as possible," said Mr. Tran Lam Son - Vice Chairman of the Handicraft and Wood Processing Association of Ho Chi Minh City.

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 enterprises to the US market reached 6.2 billion USD, accounting for 55.8% of the total export turnover of this item.

But the imposition of reciprocal tariffs and the US launching anti-dumping investigations into Vietnamese plywood are forcing businesses to find ways to adapt quickly to maintain their position in the market.

Source: https://vtv.vn/doanh-nghiep-go-viet-tim-huong-di-moi-tai-thi-truong-my-100251026101313215.htm