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Vietnam is set to implement stricter penalties to combat trade fraud and illegal transshipment, particularly targeting Chinese goods, as part of efforts to meet commitments made to the U.S.  A government document seen by Reuters outlines a forthcoming decree that will "prescribe additional levels of sanctions for fraud of origin" and strengthen inspection measures. Authorities have been instructed to step up checks on exports to the U.S., focusing on products deemed "at risk of trade fraud... or Chinese items that are subject to trade defence measures by the European Union and the United States." Targeted goods include wooden furniture, plywood, steel machine parts, bicycles, batteries, wireless headphones, and other electronics.

Vietnam Steps Up Crackdown on Trade Fraud

Brent crude oil futures rose above $69 per barrel on Friday, trimming losses from the previous session and heading for a second straight weekly gain, supported by a rising geopolitical risk premium. Houthi attacks in the Red Sea sank two cargo vessels this week, heightening fears of potential supply disruptions. Markets also continued to weigh the impact of US trade actions after President Trump announced a 35% tariff on Canadian imports starting August 1 and signaled 15–20% blanket tariffs on most other trade partners—measures expected to slow global growth and dampen oil demand. Meanwhile, oil had dropped more than 2% on Thursday after OPEC lowered its 2026–2029 global demand forecast, citing weaker Chinese consumption. The group now sees 2026 demand at 106.3 million bpd, down from last year’s estimate of 108 million. OPEC is also reportedly considering a pause in additional output hikes from October, which traders see as a sign the market may struggle to absorb further supply.

Brent Rises on Supply Risks

WTI crude oil futures rose above $67 per barrel on Friday, trimming losses from the previous session and heading for a second straight weekly gain, supported by a rising geopolitical risk premium. Houthi attacks in the Red Sea sank two cargo vessels this week, heightening fears of potential supply disruptions. Markets also continued to weigh the impact of US trade actions after President Trump announced a 35% tariff on Canadian imports starting August 1 and signaled 15–20% blanket tariffs on most other trade partners—measures expected to slow global growth and dampen oil demand. Meanwhile, oil had dropped more than 2% on Thursday after OPEC lowered its 2026–2029 global demand forecast, citing weaker Chinese consumption. The group now sees 2026 demand at 106.3 million bpd, down from last year’s estimate of 108 million. OPEC is also reportedly considering a pause in additional output hikes from October, which traders see as a sign the market may struggle to absorb further supply.

Oil Rises on Supply Risks

Net foreign direct investment (FDI) in the Philippines advanced by 7.1% year-on-year to a three-month high of USD 0.6 billion in April 2025. The increase in net inflows was driven by a significant rise in debt instruments (24.3%) and a modest gain in reinvestment earnings (3.3%).  Meanwhile, equity capital saw a reversal, shrinking by 94.1%. Equity capital placements for the month largely came from Japan (32%), the United States (18%), Singapore (13%), South Korea (13%), and Taiwan (9%), with investments directed largely toward manufacturing (47%); real estate (16%); and financial and insurance (16%). Considering the first four months of the year, net FDI inflows reached USD 2.4 billion, lower compared to the corresponding period of the previous year.

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