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Key Takeaway: Vietnam’s garment industry aims to diversify export markets and clients as it braces for potential impacts from US President-elect Donald Trump’s trade policies , while maintaining its growth trajectory. Vietnam’s garment exports are projected to grow further in 2025, reaching $47-$48 billion , up from an estimated $44 billion in 2024, according to the Vietnam Textile and Apparel Association (VITAS). Despite this growth, the industry is preparing for potential changes in US trade policies, given Vietnam’s $100 billion trade surplus with the US last year. Diversification Strategy VITAS Chairman Vu Duc Giang emphasized a strategic shift toward diversifying export markets, products, and clients to mitigate risks tied to US tariffs or trade adjustments. While the US remains Vietnam’s largest apparel market , accounting for 38% of shipments , efforts are underway to reduce dependency. “We will push for diversification to address uncertainties,” Giang said, adding that imp...

Introduction Indonesia is on the verge of implementing significant tariffs and other protective measures against textile imports from China. This move comes as part of a broader strategy to safeguard its domestic textile industry from the flood of inexpensive Chinese goods, which have been harming local businesses. As Southeast Asia's largest economy, Indonesia faces the delicate task of protecting its industries while maintaining vital trade relations with China. The Catalyst: Local Industry Concerns The local textile sector has raised alarms about the surge in imports, prompting associations to call for government intervention. The dramatic influx of cheap textiles has threatened the viability of Indonesian textile manufacturers, leading to increased pressure on the government to act decisively. Government's Protective Measures The Indonesian Trade Safeguards Committee is currently investigating the situation. According to Budi Santoso, Director-General of Foreign Trade, the ...