Tiếng ViệtAgriculture Secretary Thomas Vilsack said the US is expected to increase its imports of furniture and wood products from Vietnam in the future as inflation in the country is falling.
“The ability to import wood and wood products is directly related to the state of the US economy. The high inflation rate has reduced the number of houses being started and sold,” Minister Vilsack said at a press conference on the afternoon of April 19, on the occasion of his visit to Vietnam.
“(But) inflation is gradually coming under control. Our economy remains strong. Therefore, I expect and expect that we will see more imported furniture and wood products in the future,” the minister said.
Mr. Vilsack made the above statement in the context that the export of wood and wood products from Vietnam to the US market is on a downward trend.
According to statistics from the General Department of Customs, Vietnam’s exports of wood and wood products to the US market in the first two months of the year decreased by 47.2% in value over the same period last year.
The proportion of Vietnam’s wood and wood products exports to the US fell the most, accounting for 46.7% of the total export value, down 13.6 percentage points over the same period in 2022.
But new data released by the US Bureau of Labor Statistics on April 12 shows that inflation in the country fell in March, according to the Washington Post.
In response to the question of what support the US will have in the process of Vietnam implementing the project of one million hectares of high-quality, low-emission rice by 2030 (expected to invest at least 1.7 billion USD), Minister Vilsack reaffirm its commitment. The US will provide financial support, share technical knowledge, exchange experts and encourage US private businesses to invest in Vietnam in this field.
The minister noted that to achieve the goal of zero-emission agriculture, farmers need to be open and willing to change current ways and systems…
“I believe that offering market-based and science-based incentives will be an effective way to convince farmers to switch to climate-smart farming practices.” he said.
The US Secretary of Agriculture also said that the country is continuing to complete procedures to open the market for coconuts and passion fruit from Vietnam. He affirmed that he would convey the words of Vietnamese officials to the US Department of Commerce about proposing the US to lift anti-dumping duties on Vietnamese raw honey.
Minister Thomas Vilsack is visiting Vietnam from April 16-20. During the trip, Mr. Vilsack had many activities such as meeting Vietnamese officials, interacting with leading agricultural enterprises in Vietnam, cutting the ribbon to inaugurate the DART wood inspection laboratory at the Institute of Forest Science. Vietnamese industry…
DART wood inspection technology – supported by the US Forest Service in a project with Vietnam – is an automatic analysis system that analyzes the chemical composition of compounds in wood with the time to give results only about 10 minutes.
