by admin | Apr 3, 2025 | General
Staff at a garment factory in Ho Chi Minh City, which supplies T-shirts and underwear to the U.S., were shocked by the newly introduced “devastating” trade tariffs on Vietnam that could have severe repercussions for their operations.
A major manufacturing hub that listed the United States as its largest market last year, this Southeast Asian country faced a hefty 46 percent tariff during President Donald Trump’s worldwide trade crackdown.
Even though there were general concerns about being a major focus due to its substantial trade surplus with Washington — ranking third largest after China and Mexico — the magnitude of the tariffs announced on Thursday was a shock for companies and manufacturing employees alike.
“Truly astonishing,” stated Tran Nhu Tung, who chairs the board of Thanh Cong—a manufacturing plant in Ho Chi Minh City producing garments for brands like DKNY and Walmart.
“Specifically within the textile sector, we didn’t expect this. I believed that because Vietnam is a smaller nation, the U.S. wouldn’t enforce such high tariffs,” stated Tung.
Approximately one-quarter of his exports are presently shipped to the United States, he mentioned.
In the trade conflict between Beijing and Washington during Trump’s first term, Vietnam capitalized on its strategic geographical placement and inexpensive skilled workforce to establish itself as a rival manufacturing center in Asia.
A number of businesses relocated portions of their supply chains, resulting in Vietnam’s trade surplus with the U.S. doubling from 2017 to 2023.
Currently, major companies like Nike—which manufactured 50% of its shoes and 28% of its clothing in Vietnam during the fiscal year 2024—are dealing with significantly increased expenses. They must either shoulder these additional costs themselves or pass them along to consumers, leading to a sharp decline in their stock prices on Thursday.
Analysts mentioned that these tariffs might push numerous entities to seek alternative locations for production.
“These items have slim profit margins and are highly sensitive to pricing changes, leading large corporations to redirect their orders to nations with more favorable reciprocal tariff rates,” explained Sayaka Shiba, who serves as a senior country risk analyst at the research company BMI.
Tariffs would “substantially harm” Vietnam’s present economic strategy focused on exports, as the country heavily depends on sales to the U.S., she explained, noting that under the most adverse conditions, this could result in a 3% reduction in GDP for the year.
Data from the US Trade Representative website indicates that the United States imported $136.6 billion worth of products from Vietnam in the previous year, which accounts for approximately 30 percent of its GDP.
Following the announcement, Hanoi’s stocks plummeted, causing its primary index to close 6.7 percent lower on Thursday—the largest decline since 2001 as reported by Bloomberg.
‘Can’t eat, can’t sleep’
The imposed tariffs have caused workers in Vietnam to worry about their future prospects.
“Due to constant worries about potentially losing my employment, I’ve been struggling with both eating and sleeping properly,” stated 38-year-old Cao Thi Dieu, who works at a shoe manufacturing plant in Ho Chi Minh City producing footwear for companies like Nike and Adidas.
“What will happen if I lose my job? How can I keep making enough money every month for my two kids’ education?” she said to AFP.
Shortly after the announcement, Vietnam’s prime minister called for the swift formation of a “rapid response team,” adding that Deputy Prime Minister Ho Duc Phoc was set to travel to the United States for an official “working visit.”
“Several people think that this tariff rate is primarily a negotiating tactic rather than an ultimate stance,” stated Dan Martin from the business consulting company Dezan Shira & Associates in Hanoi.
Even though Vietnam might aim for a decrease, past charm offensive efforts have been unsuccessful.
Earlier this week, Vietnam reduced import taxes on numerous items ranging from liquefied gas and certain agricultural products to vehicles, seemingly as an anticipatory move to mitigate the impact of these tariffs.
The company further declared that it would permit Elon Musk’s SpaceX to initiate its Starlink satellite internet service under a trial program extending until 2030.
However, it seems that the Trump administration was deeply frustrated with Vietnam for allegedly assisting in efforts to evade tariffs placed on China.
A White House official informed journalists, “The operation in Vietnam functions this way: They establish these sites that appear, when viewed from above, as though they are production facilities. However, China merely transports its goods into these storage buildings, after which Vietnam ships them to us.”
However, a 2024 report from the International Monetary Fund stated that there was “no definitive proof” indicating Vietnam’s involvement in aiding Chinese exports to the United States.
“Most companies aren’t trying to manipulate the system,” Martin stated. “They’re here because Vietnam offers both strategic and operational advantages.”
by admin | Apr 3, 2025 | General
The Football Association of Thailand (FAT) President, Madam Pang, made headlines as she arrived in Vietnam sporting a designer ensemble complete with an Hermes bag and a timepiece worth more than $340,000.
Arriving at Noi Bai International Airport at 11:50 a.m. on Thursday, Madam Pang sported a Richard Mille watch valued at roughly $340,000, held an Hermès bag priced about $16,500, and finished her ensemble with a brown Hermès jacket estimated at around $7,000.
Her visit aims to foster collaboration in women’s soccer between Vietnam and Thailand, marking 50 years since the establishment of diplomatic ties between the countries. She was present at a friendly game involving the U17 national female squads from both Vietnam and Thailand in Hanoi at around 3 p.m.
Nualphan Lamsam, widely recognized as Madam Pang, originates from the Lamsam clan, a prominent and affluent Thai business dynasty. As reported by Forbes, the collective wealth of this family stands at approximately $890 million.
Mrs. Pang obtained her Bachelor’s degree in Business Administration from Chulalongkorn University and pursued further studies overseas where she earned a Master’s degree. Presently, she holds the positions of President and Chief Executive Officer at Muang Thai Insurance Group, a prominent insurance company in the nation. Additionally, she is a co-owner of Meister Technik, responsible for distributing the Audi marque in Thailand.
Pioneering in the fashion sector, Madam Pang played a crucial role in bringing luxury international brands into Thailand. Her enterprises, Wanmani and San Honor, made prestigious labels like Hermès, Emporio Armani, Tod’s, Rodo, Chloé, Christofle, and Blumarine more accessible to Thai shoppers.
In soccer, Madam Pang serves as the president of the local team Port FC and assumed the role of FAT President in February 2024 after securing a remarkable 68 out of 73 votes (93%). She stands as the inaugural female leader of a national football association both in Thailand and across Asia.
From August 2021 to January 2024, she served as head of the Thai football delegation. During that time, she personally spent around 60 million baht ($1.75 million) to reward Thailand teams participating in regional and continental tournaments, helping them win back-to-back AFF Cup titles in 2021 and 2022.
by admin | Apr 3, 2025 | airline industry, civil aviation, flying, passports and international travel, sports
…To Fine Defaulting Airlines
The Nigeria Civil Aviation Authority (NCAA) has condemned the practice wherein airlines issue tickets to passengers but then transport them only partway to their destination before returning them to Nigeria. The NCAA warned all international carriers operating within Nigeria that such incidents will not be tolerated moving forward.
A statement from Michael Achimugu, the Director for Consumer Protection and Public Affairs, issued on Thursday stated: “As of now, any airlines participating in these practices will face regulatory actions. These may include—but aren’t limited to—fines, suspensions of their flight operations, or other suitable measures.”
The NCAA stated that these measures, which include denying boarding or entry at certain transit points for some Nigerian travelers because of visa limitations or travel constraints, are leading to considerable discomfort among passengers and damaging the image of Nigeria’s aviation sector.
The statement includes the following: “The NCAA has received multiple complaints alleging that some airlines have sold tickets to passengers who were then flown only partway to their destination before being deported back to Nigeria.”
The NCAA views these practices as entirely unacceptable. Airlines have the duty to notify travelers about any possible obstacles regarding their admission at their final destination prior to their journey commencement. Travelers ought not to find themselves in a situation where they face denial of entry or being sent back to Nigeria upon reaching intermediate or transit points.
In accordance with the stipulations outlined in Chapter 19.21.1.1 of the Nigerian Civil Aviation Regulations from 2023, every airline along with its representatives must guarantee that travelers are made aware of any possible entry concerns or travel limitations prior to their departure.
Airlines are required to implement suitable procedures for screening and should furnish travelers with correct, current details about their travel documentation and visa prerequisites prior to selling tickets and allowing them to board.
Given this situation, the NCAA notifies all international carriers flying within Nigeria that they can no longer expect to overlook such incidents.
The NCAA looks forward to the collaboration from all airlines in upholding the standards and professionalism within the aviation sector, along with safeguarding the welfare of travelers from Nigeria.
Provided by SyndiGate Media Inc.
Syndigate.info
).
by admin | Apr 3, 2025 | General
Newcastle United are set to step on Korean soil this summer.
According to an exclusive report released on the 3rd (in Korean time), the British newspaper iNews stated, “Newcastle United plans to visit Singapore and South Korea as part of their lucrative pre-season tour. They will travel to Asia towards the end of July and participate in three matches. One game is scheduled to take place at the 55,000-capacity Singapore National Stadium. This marks Newcastle’s inaugural appearance in South Korea.”
After the top six clubs in the English Premier League, Newcastle stands as the next highly esteemed team. They have claimed the first division title four times and secured the FA Cup six times. This year, they demonstrated their ambition to regain prestige by defeating Liverpool and claiming victory in the Carabao Cup.
Korean football enthusiasts recognize this team as the former club of Alan Shearer, who holds the record for the most goals scored in Premier League history. Additionally, South Korea’s legendary player Ki Sung-yueng represented the squad during the period spanning from the 2018–2019 season through the end of the 2019–2020 campaign.
Newcastle United has been expanding under the ownership of a group headed by Public Investment Fund (PIF), which is managed by Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud after acquiring the club in 2021. With substantial backing from Saudi financial resources, Newcastle is rapidly amassing strength. Key figures currently playing for them consist of Allan Saint-Maximin, Sven Botman, and Bruno Guimarães. Furthermore, manager Eddie Howe ranks among the elite coaching talents within the English Premier League.
A number of major football clubs, along with Newcastle, are anticipated to tour South Korea this coming summer. According to an article published in February by the UK’s Daily Mail, Spurs’ journey across Asia proves highly lucrative because of star player Son Heung-min’s immense fanbase in East Asia. Considering these factors, Tottenham might plan another stopover in South Korea after their previous visit. Additionally, discussions about a match in Hong Kong have been initiated; hence, Tottenham could indeed return to Korea later this year.
Barcelona, considered the premier club globally, is presently negotiating to hold the match in Daegu. Starting from 2022, major teams have regularly come to South Korea as part of the Coupang Play series. Clubs such as Tottenham, Sevilla, Atletico Madrid, Bayern Munich, and Paris Saint-Germain (PSG) have made visits.
rlaeotlr2024@SANGGRALOKA
-
Song Hae Last’s cause of death was determined as myocardial infarction; he was also known as the celebrity soldier.
-
The shock of 79-year-old Yoon Bok-hee being blind is staggering. I am unable to perceive out of one eye.
-
“The behavior is repulsive.” A renowned 74-year-old actor allegedly coerced performers into inappropriate acts during live broadcasts.
-
Sulli’s Family Queries Kim Soo-hyun Regarding ‘Authentic’ Shooting
-
Kim Dae-hee’s daughter graduated from Y University + A celebrity-level beauty, the final one to nurture her children
-
Lee Si-young, you’re surrounded by Champagne Cup thieves in Paris… “I suppose I’ve had too much to drink.” Shocked
-
A relationship involving both a sibling and a spouse.. ” Dad, Aunt, do you care for me? ” The daughter’s query surprised Ras.
by admin | Apr 3, 2025 | asia, diplomacy and diplomats, indian national news, international relations, politics
Dhaka, April 3 — Indian Prime Minister Narendra Modi stated that he plans to meet with the leaders of the BIMSTEC nations to explore avenues for enhancing cooperation, always considering the welfare of their citizens.
“I am looking forward to meeting the leaders of the BIMSTEC nations and engaging constructively to enhance our cooperation, keeping the well-being of our citizens at heart,” Modi stated in his departing message before embarking on his trip to Thailand and Sri Lanka on Thursday.
Bangladesh views this year’s BIMSTEC Summit, which is set to take place in Bangkok, Thailand, on April 4, as highly significant for the nation since Bangladesh will take over the leadership of the organization for the coming two years.
Dhaka believes the summit will offer them a chance to showcase a “fair and equitable” Bangladesh within South and Southeast Asia, according to officials who spoke this week.
Professor Muhammad Yunus, the Chief Advisor, will arrive in Bangkok on Thursday afternoon for the summit, according to an announcement made by his Deputy Press Secretary, Abul Kalam Azad Majumder, to UNB.
Dhaka officials mentioned that Dr. Yunus is expected to meet with Prime Minister Modi during the margins of the BIMSTEC Summit, though they provided no additional details.
Dr. Yunus departs for Bangkok to participate in the 6th BIMSTEC Summit.
Michael Kugelman, an analyst specializing in South Asian affairs, stated based on reports from Bangladeshi media that Modi is scheduled to meet with Yunus during the BIMSTEC event taking place in Thailand this week.
“If accurate, this would mark the largest India-Bangladesh diplomatic advancement since Hasina’s departure from office,” Kugeman stated in a tweet posted via his verified X account.
Following an invite from Thai Prime Minister Paetongtarn Shinawatra, Indian Prime Minister Modi embarked on an official trip to Thailand with the dual purpose of attending the 6th BIMSTEC Summit in Bangkok.
In the last ten years, according to Modi, BIMSTEC has become an important platform for fostering regional growth, connecting areas, and boosting economic advancement in the Bay of Bengal area.
“Given its geographic position, India’s Northeastern area is centrally located within the BIMSTEC region,” stated the Indian Prime Minister.
While on an official visit, India’s Prime Minister will meet with Thailand’s Prime Minister Shinawatra and other leaders in the country. They share a mutual aim to strengthen the long-standing historical connections between their nations, rooted deeply in similar cultural values, philosophies, and spiritual beliefs.
Modi will make a two-day trip to Sri Lanka starting from April 4th until April 6th, coming directly from Thailand.
Following the remarkably successful trip made by President Disanayaka to India in December, this event took place.
“We will have the opportunity to review progress made on the joint vision of “Fostering Partnerships for a Shared Future” and provide further guidance to realise our shared objectives,” Modi said.
ASEAN lawmakers aim to exclude Myanmar from BIMSTEC due to human rights worries.
He expressed his continued confidence that these visits will expand upon the groundwork laid in the past and help fortify their strong bonds for the betterment of both nations and the broader area.
