Vietnam has said it would crackdown on goods of Chinese origin illegally relabeled “Made in Vietnam” by exporters seeking to avoid US President Donald Trump’s tariffs on Chinese imports.
The General Department of Vietnam Customs has found scores of such cases amid ongoing US-China trade tensions, it said in a statement posted to a government Web site on Sunday.
“The faking of origin and the illegal transhipment of goods happens most often in the sectors of textiles, seafood, agricultural products, tiles, honey, steel and iron, aluminium and timber products,” the department said.
Some importers had been illegally repacking goods from China in “Made in Vietnam” packaging and then applying for a Vietnamese certificate of origin with which to export to the US, Europe and Japan, it said.
In one such example, which was uncovered by US Customs and Border Protection, a Vietnam-based manufacturer of timber products was found to have been importing Chinese timber which it had relabeled and exported to the US.
Vietnam’s customs department is developing a process to better identify and impose penalties on businesses that carry out such contraventions, the statement said.
Vietnam has emerged as one of the largest beneficiaries of the trade dispute between Beijing and Washington, as some businesses are shifting their supply chains away from China to avoid tariffs.
An analysis of trade data by Japan’s Nomura Holdings Inc earlier this month showed that Vietnam had easily benefited more than other countries.
The Southeast Asian country relies heavily on China for materials and equipment for its manufacturing sector.
Meanwhile, the US is Vietnam’s largest export market.
The Vietnamese government has created a steering committee in response to the trade war, Vietnamese Minister of Foreign Affairs Pham Binh Minh said in a speech to the Vietnamese National Assembly last week.
BUSINESS UPDATE: The iPhone assembler said operations outlook is expected to show quarter-on-quarter and year-on-year growth for the second quarter Hon Hai Precision Industry Co (鴻海精密) yesterday reported strong growth in sales last month, potentially raising expectations for iPhone sales while artificial intelligence (AI)-related business booms. The company, which assembles the majority of Apple Inc’s smartphones, reported a 19.03 percent rise in monthly sales to NT$510.9 billion (US$15.78 billion), from NT$429.22 billion in the same period last year. On a monthly basis, sales rose 14.16 percent, it said. The company in a statement said that last month’s revenue was a record-breaking April performance. Hon Hai, known also as Foxconn Technology Group (富士康科技集團), assembles most iPhones, but the company is diversifying its business to
Apple Inc has been developing a homegrown chip to run artificial intelligence (AI) tools in data centers, although it is unclear if the semiconductor would ever be deployed, the Wall Street Journal reported on Monday. The effort would build on Apple’s previous efforts to make in-house chips, which run in its iPhones, Macs and other devices, according to the Journal, which cited unidentified people familiar with the matter. The server project is code-named ACDC (Apple Chips in Data Center) within the company, aiming to utilize Apple’s expertise in chip design for the company’s server infrastructure, the newspaper said. While this initiative has been
Clambering hand-over-hand, sweat dripping into his eyes, a durian laborer expertly slices a cumbersome fruit from a tree before tossing it down to land with a soft thump in his colleague’s waiting arms about 15m below. Among Thailand’s most famous and lucrative exports, the pungent “king of fruits” is as distinctive in its smell as its spiky green-brown carapace, and has been farmed in the kingdom for hundreds of years. However, a vicious heat wave engulfing Southeast Asia has resulted in smaller yields and spiraling costs, with growers and sellers increasingly panicked as global warming damages the industry. “This year is a crisis,”
HIGH-TECH: As leading-edge process technologies become more complicated, only a handful of players are able to provide design services, the company’s CEO said Artificial intelligence (AI) chip designer Alchip Technologies Ltd (世芯) yesterday said that revenue would grow significantly again in 2026 after adding a major AI chip customer, reversing moderation amid a product transition next year. The Taipei-based application-specific IC (ASIC) designer reiterated its strong revenue growth forecast for this year and 2026 after its stock plummeted about 23 percent to NT$3,145 from a peak of NT$4,085 on March 6 amid growing competition. Alchip said it has built strong partnerships with cloud service providers (CSP), denying that it had lost orders to smaller competitors such as Faraday Technology Corp (智原). Faraday said it has secured