From the story of Vietnam importing a huge amount of pistachios and almonds from the US, discussing export tax solutions

That is one of the solutions to overcome the challenge of US reciprocal tariffs that Mr. Nguyen Thanh Binh, Chairman of the Vietnam Fruit and Vegetable Association, has proposed. To boost exports, the entire agricultural, forestry and fishery sector needs to expand and redirect export markets.

Conference on promoting agricultural, forestry and fishery exports in 2025, in Ho Chi Minh City on the morning of August 12 - Photo: THAO THUONG

On August 12, the Ministry of Agriculture and Environment held a conference to promote agricultural, forestry and fishery exports in 2025 in Ho Chi Minh City; discussing opportunities and challenges from major markets such as the US, EU, China, UAE; and plans to consume key products in localities.

The conference was chaired by Acting Minister of Agriculture and Environment Tran Duc Thang and Deputy Minister Tran Thanh Nam.

Increase fruit imports from the US

According to Mr. Binh, the US is a market with a very large, rich, and diverse demand for tropical agricultural products, including fruits.

Citing that this is the market with the fastest growth rate in fruit and vegetable exports, Mr. Binh said that in the first 6 months of 2025, the export proportion of the US market increased to 8.42%, while in the same period in 2024 it was only 5%.

In addition, Vietnamese fruits and vegetables are only exported to the US in the Vietnamese and Asian communities, while other communities still have great potential; processed products are of interest to American consumers, but the proportion of processed Vietnamese fruits and vegetables is only 17-20% of the total fruit and vegetable products, so according to Mr. Binh, there are many opportunities ahead.

However, the biggest challenge for the industry today is that the US imposes a 20% export tax on Vietnamese fruits and vegetables, businesses no longer make profits, US consumers also reduce their consumption needs, and Vietnam reduces orders.

Vietnam's fruits and vegetables may also lose competitiveness compared to fruits and vegetables produced in US states, Mexico, and South American countries; and increase competition with countries such as Thailand, Malaysia, Indonesia, Cambodia, etc., which have tax rates 19% lower than Vietnam's.

Among the solutions that Mr. Binh proposed to resolve the issue, he mentioned detailed negotiations to reduce the tax on fruits and vegetables to 0%.

"Because these are 100% Vietnamese-made products and in the Vietnam-US fruit and vegetable trade relationship. Currently, Vietnam is having a trade deficit of fruits and vegetables from the US, importing 560 million USD in 2024, but exporting to the US only 360 million USD. This is an issue that has a basis for negotiation with the US.

In particular, increase fruit imports from the US. For example, currently, we import the most from the US are pistachios and almonds, which are then processed and exported to the US. Taking advantage of importing raw materials and machinery from the US to export to this market will reduce the trade deficit," Mr. Binh emphasized.

In addition, according to Mr. Binh, besides the US, it is necessary to find other markets to replace or better exploit existing markets such as the EU, Japan, China, Korea, etc.

Take advantage of trade agreements to "outdo" competitors

Ms. To Thi Tuong Lan, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), said that in the first 7 months of 2025, seafood exports reached 6.22 billion USD, an increase of 17.2% over the same period in 2024.

However, if the new US reciprocal tax policy is applied, Ms. Lan said that pangasius will also be significantly affected in terms of costs and prices in the context of the Chinese market slowing down due to high inventories, forcing businesses to expand exports to ASEAN, South America and the Middle East.

Exporting Vietnamese pangasius is a bright spot in Vietnam's seafood exports, especially to the US market - Photo: THAO THUONG

Tuna exports in the first 7 months decreased by 2.8% to 542 million USD; in July alone, they decreased by nearly 19%. Part of the reason is that Vietnamese tuna is subject to higher reciprocal taxes than Ecuador, the Philippines and Indonesia, reducing competitiveness.

But according to Ms. Lan, challenges still open up opportunities, Ms. Lan said: "The strong recovery of the Chinese, ASEAN and Japanese markets, along with the signal of removing technical barriers from the EU, opens up growth space for deeply processed product lines.

Trade agreements such as EVFTA, CPTPP, UKVFTA continue to create superior tariff advantages compared to competitor countries. Value-added products that other countries cannot produce, Vietnam can produce, that is a great opportunity to take advantage of."

In the first 7 months of 2025, the export turnover of agricultural, forestry and fishery products will reach nearly 40 billion USD.

At the conference, Mr. Tran Thanh Nam, Deputy Minister of Agriculture and Environment, said that in the first 7 months of 2025, the industry's total turnover reached 39.7 billion USD, an increase of 14.7% over the same period last year.

Of which: agricultural products reached 21.5 billion USD (up 17%), forestry products 10.4 billion USD (up 8.6%), aquatic products 6.1 billion USD (up 13.8%), livestock products 339.2 million USD (up 22.1%).

This is a positive signal for the industry's exports. The three major markets, the US, China and Japan, all maintained growth despite the difficult context. In particular, exports to Europe increased sharply by 49%, reaching 4.3 billion USD; the Middle East increased by 10.9%; and Africa increased by 8.9%.

"This shows that markets outside the key group are also expanding. Besides advantages, the industry still faces many challenges, especially reciprocal taxes from the US. However, Vietnamese agricultural enterprises still affirm that there are many opportunities to enter this market.

If we simultaneously promote diversification of other markets, the possibility of achieving the turnover target of 65 billion USD in 2025 is completely feasible," Deputy Minister Tran Thanh Nam acknowledged.

Mr. Nam also proposed key solutions, including prioritizing the construction of raw material areas, promoting trade promotion, expanding and redirecting export markets.

NEGOTIATION

Source: https://tuoitre.vn/tu-chuyen-viet-nam-nhap-khung-hat-de-cuoi-hanh-nhan-tu-my-ban-giai-phap-thue-xuat-khau-2025081212411746.htm