Latest news with #Haiphong
CNA
3 days ago
- Climate
- CNA
Heavy rains expected as Tropical Storm Wipha approaches Vietnam's northern coast
HANOI: Tropical storm Wipha was set to cross Vietnam's northern coastline on Tuesday (Jul 22) morning, with almost 350,000 soldiers on standby as the state weather agency forecast up to 50cm of rainfall that could cause flooding and mudslides. As of 6am, Wipha was 60km off the coast of Haiphong City with wind speeds of up to 102kmh, and was moving southwest at a speed of 15kmh, according to the national weather forecast agency. After making landfall in Hung Yen and Ninh Binh provinces, Wipha is forecast to weaken to a low-pressure event on Tuesday night, the agency said. No casualties or damage have been reported so far. Witnesses in Haiphong, an industrial base that is home to key ports, said the wind and rain were moderate on Tuesday morning. "We are able to go outdoors this morning as the wind is not too strong," said a resident of Cat Ba Island in Haiphong. On Sunday, Prime Minister Pham Minh Chinh put coastal provinces on emergency footing for Wipha, saying it could cause flooding and landslides. Airlines have cancelled and rescheduled dozens of flights, and some airport, port and train services have been suspended. With a long coastline facing the South China Sea, Vietnam is prone to typhoons that are often deadly. Last year, Typhoon Yagi killed around 300 people and caused US$3.3 billion of damage.
Bloomberg
3 days ago
- Climate
- Bloomberg
Tropical Storm Wipha Set to Make Landfall in Northern Vietnam
Tropical Storm Wipha is edging slowly toward Vietnam and is set to cross the coast near the northern port city of Haiphong around noon on Tuesday, bringing heavy rain that could lead to flash flooding. Wipha strengthened as it moved over the warm waters of the Gulf of Tonkin overnight, but interaction with nearby land and persistent crosswinds kept its intensification in check, according to the US Navy's Joint Typhoon Warning Center. The JTWC assessed the storm's top sustained winds at 93 kilometers (58 miles) per hour, placing it below typhoon strength.
Reuters
3 days ago
- Climate
- Reuters
Heavy rains expected as Tropical Storm Wipha approaches Vietnam's northern coast
HANOI, July 22 (Reuters) - Tropical storm Wipha was set to cross Vietnam's northern coastline on Tuesday morning, with almost 350,000 soldiers on standby as the state weather agency forecast up to 50 cm (20 inches) of rainfall that could cause flooding and mudslides. As of 06:00 a.m., Wipha was 60 km off the coast of Haiphong City with wind speeds of up to 102 kph (63 mph), and was moving southwest at a speed of 15 kph, according to the national weather forecast agency. After making landfall in Hung Yen and Ninh Binh provinces, Wipha is forecast to weaken to a low-pressure event on Tuesday night, the agency said. No casualties or damage have been reported so far. Witnesses in Haiphong, an industrial base that is home to key ports, said the wind and rain were moderate on Tuesday morning. "We are able to go outdoors this morning as the wind is not too strong," said a resident of Cat Ba Island in Haiphong. On Sunday, Prime Minister Pham Minh Chinh put coastal provinces on emergency footing for Wipha, saying it could cause flooding and landslides. Airlines have cancelled and rescheduled dozens of flights, and some airport, port and train services have been suspended. With a long coastline facing the South China Sea, Vietnam is prone to typhoons that are often deadly. Last year, Typhoon Yagi killed around 300 people and caused $3.3 billion of damage.
CTV News
03-07-2025
- Automotive
- CTV News
Trump says he will put 20% tariff on Vietnam's exports
Workers attach a rear door to the body frame of a Vinfast Lux A2.0 sedan as it moves along a conveyor in the body shop area of the automaker's factory in Haiphong, Vietnam. WASHINGTON/HANOI — The United States will place a lower-than-promised 20 per cent tariff on many Vietnamese exports, U.S. President Donald Trump said on Wednesday, cooling tensions with its tenth-biggest trading partner days before the U.S. president could raise levies on most imports. Vietnamese goods would face a 20 per cent tariff and trans-shipments from third countries through Vietnam will face a 40 per cent levy, he said. Vietnam could import U.S. products with a zero percent tariff, he added. 'It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam,' Trump said on Truth Social after speaking with Vietnam's top leader, To Lam. Trump's announcement comes just days before a July 9 deadline before he ramps up tariffs on most imports, one of the Republican's signature economic policies. Under that plan, announced in April, U.S. importers of Vietnamese goods would have had to pay a 46 per cent tariff. Details were scant. It was not clear which products Trump's 20 per cent tariff would apply to, or whether some would qualify for lower or higher total duties. Also left to later discussion was how the new trans-shipment provision, aimed at products largely made in China and then labeled 'Made in Vietnam,' would be implemented and enforced. The Vietnamese government did not confirm the specific tariff levels in a statement celebrating what it described as an agreement on a joint statement about a trade framework. Vietnam would commit to 'providing preferential market access for U.S. goods, including large-engine cars,' the government in Hanoi said. A deal between the two countries would be a political boost for Trump, whose team has struggled to quickly close deals with Washington's biggest trading partners ahead of the deadline. While the administration has teased a forthcoming deal with India, truces reached earlier with Britain and China were limited in scope. Talks with Japan, the United States' sixth-largest trading partner and closest ally in Asia, appeared to hit roadblocks. The U.S. is Vietnam's largest export market and the two countries' growing economic, diplomatic and military ties are a hedge against Washington's biggest strategic rival, China. Vietnam has worked to retain close relations with both superpowers. Shares of major U.S. apparel and sportswear makers including Nike, Under Armour and North Face maker VF Corp closed higher on Wednesday on the news. Lam also asked Trump for the U.S. to recognize Vietnam as a market economy and remove restrictions on the exports of high-tech products to the country, Vietnam said. Those changes have long been sought by Hanoi. The White House and the Vietnamese trade ministry did not respond to requests for additional comment. GROWING TRADE TIES Since Trump imposed tariffs on hundreds of billions of dollars in Chinese goods in his 2017-2021 term, U.S. trade with Vietnam has exploded, though almost all of it in the form of goods to the United States from Vietnam as importers sought workarounds for the China levies. Since 2018, Vietnam's exports are up nearly threefold from less than US$50 billion that year to about $137 billion in 2024, Census Bureau data shows. U.S. exports to Vietnam are up only about 30% in that time - to just over $13 billion last year from less than $10 billion in 2018. ''Transshipping' is a vague and often politicized term in trade enforcement,' said Dan Martin, business adviser at Dezan Shira & Associates, on LinkedIn. 'How it's defined and how it's applied in practice will shape the future of US-Vietnam trade relations.' Trump announced a wave of tariffs for countries around the world on April 2, before pausing the implementation of most duties until July 9. More than a dozen countries are actively negotiating with the Trump administration to avoid a steep spike in tariffs on their exports. Britain accepted a 10 per cent U.S. tariff on many goods, including autos, in exchange for special access for aircraft engines and British beef. Like the agreement struck with Britain in May, the one with Vietnam resembles a framework rather than a finalized trade pact. China and the United States also came to a truce in a tit-for-tat tariff battle in which Beijing restored American access to some rare-earth minerals, but the two sides left most of their disagreements to later negotiations. 'Had Trump stuck with 46 per cent, much higher than the current tariff on China, Vietnam feared it would be disadvantaged by its competitors especially in Southeast Asia,' said Murray Hiebert, a senior associate with the Southeast Asia program at CSIS, a think tank. 'This likely would have dented Vietnam's trust in the U.S. and it might have toned down some of its security cooperation with Washington.' (Reporting by Trevor Hunnicutt, David Lawder and David Brunnstrom in Washington; Khanh Vu, Phuong Nguyen and Francesco Guarascio in Hanoi; and Ryan Patrick Jones and Bhargav Acharya in Toronto; Editing by Mark Porter and Matthew Lewis)
CNA
29-06-2025
- Automotive
- CNA
VinFast opens second domestic EV factory amid global expansion
HANOI :Vietnamese electric vehicle manufacturer VinFast began production on Sunday at its second domestic factory, aiming to ramp up output of affordable mini urban models as its global expansion plans face delays. The new facility, located in the central province of Ha Tinh, has an initial annual capacity of 200,000 units and spans 36 hectares (90 acres), the company said in a statement. By comparison, VinFast's flagship factory in northern Haiphong is designed to reach a capacity of 950,000 units by next year. VinFast, backed by Vietnam's largest conglomerate Vingroup, has set ambitious goals to establish production plants in international markets, including the United States, India, and Indonesia. However, it has faced hurdles in its global expansion, including weaker demand and stiff competition. The company announced last year that operations at its U.S. factory would be delayed until 2028. Its India assembly plant is expected to become operational next month. "Once operational, the VinFast Ha Tinh factory will contribute to VinFast's goal of producing 1 million vehicles per year to meet the increasing demand of domestic and foreign markets," said Nguyen Viet Quang, Vingroup's CEO. The EV maker has set a delivery target of 200,000 cars for 2025, having sold approximately 56,000 units in the first five months, primarily in its domestic market. It reported a net loss of $712.4 million for the first quarter, less than the $1.3 billion loss in the previous quarter but 20 per cent more than a year earlier. Revenue jumped 150 per cent to $656.5 million over the same period.
