Vietnam's fruit and vegetable trade deficit with the U.S. means this sector is likely to be less affected by President Donald Trump's new tariffs, said Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association.
Trump last Wednesday announced 46% tariffs on imports from Vietnam as part of a new wave of global impositions, while it is 34% for China and 20% for the EU. The tariffs for Vietnam will come into force on April 9.
Nguyen told The Investor he believes Vietnam's fruit and vegetable industry would be less affected due to the country's trade deficit with the U.S. regarding these items.
He clarified that the new 46% tariffs from the Trump administration would not apply to all products. Products for which the U.S. has a trade deficit are more likely to face higher taxes. Regarding fruits and vegetables, in 2024, Vietnam's exports to the U.S. were worth $360 million, which accounted for 5% of Vietnam's total export turnover of these items.
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