Vietnam exported $7.4 billion worth of furniture to the U.S. last year, compared to China’s $7.33 billion, according to data from U.S. magazine Furniture Today. This marked a 31 percent year-on-year surge for Vietnam, while that of China fell 25 percent.

A trade group representing Gap, Adidas and other global fashion brands is asking the U.S. and Vietnamese governments to help vaccinate workers in the Southeast Asian country's vital garment industry against COVID-19.

Vietnam has reached an agreement with the United States over charges of currency manipulation, pledging to refrain from the “competitive devaluation” of its dong currency in order to gain an export advantage.