Morning Briefing 2/24: Trump imposes 15% tariffs, Wall Street declines, gold surpasses $5,200

Macroeconomic News

• United States: U.S. Customs suspends IEEPA tariffs from February 24. In a historic 6-3 ruling, the U.S. Supreme Court declared that President Trump exceeded his constitutional authority by unilaterally imposing global tariffs under the guise of national emergency powers. These tariffs, announced last April, were based on the International Emergency Economic Powers Act (IEEPA).
• United States: After the U.S. Supreme Court ruled to overturn most of President Donald Trump's previous retaliatory tariffs, Trump responded by raising import tariffs to 15%, pushing the global trade war into a new phase.
• Vietnam: The First Session of the 16th National Assembly will open on April 6, 2026.
• Vietnam: The government issued Decree 62 amending and supplementing a number of articles of Decree 06 dated January 19, 2005, on the establishment and operation of representative offices of foreign cooperation and research organizations in Vietnam.
• Vietnam: At the first meeting of the new year, National Assembly Chairman Tran Thanh Man requested a high level of focus on major tasks, emphasizing the successful organization of the elections for the 16th National Assembly and People's Councils at all levels for the 2026-2031 term.
• Vietnam: Hanoi has recently amended and supplemented certain provisions of Decision No. 33/2025/QD-UBND dated April 21, 2025, on the framework for service fees for the management and operation of apartment buildings within its jurisdiction.

Market News

• VN-Index: The VN-Index rose more than 36 points in the first trading session of the new year. The market's rise to its previous peak of 1,902.93 is quite steep and lacks consensus in the overall market. Investors should trade cautiously.
• Gold prices rose more than 2% to a three-week high on February 23, as demand for safe havens increased amid uncertainty over President Donald Trump's tariff plans.
• On February 23, 2026, Truong Hai Group (THACO, THA) posted a message from Chairman Tran Ba Duong regarding the Group's business objectives for the 2026-2027 period.
• South Korea's venture capital fund The Ventures has acquired a 65% stake in the "Chicken Plus" fried chicken franchise chain in Vietnam.
• On February 13, the Board of Directors of PetroVietnam Transportation Corporation (HOSE: PVT) approved the 2026 production and business plan with consolidated revenue and profit after tax of VND 16.5 trillion and VND 1.2 trillion, respectively.
• IDV: announced that the record date for the 2025 stock dividend payment is March 16. The ex-dividend date is March 13.
• Despite wanting to divest all of its nearly 2.1 million shares (nearly 35% of charter capital) in Food Joint Stock Company (UPCoM: FCC), Golden Lotus Joint Stock Company - the largest and longest-standing shareholder - only managed to sell 1,000 shares.

Source: BIDV Securities (BSC)