Businesses need to stay calm in the face of news that the US will impose high tariffs on Vietnam.

The US is a country that imports wood and wood products. The US is the largest import market in Vietnam's 16.2 billion USD export turnover.

The US is a large market for Vietnam's export products.

According to the report of the Ministry of Agriculture and Rural Development (now the Ministry of Agriculture and Environment), in 2024, Vietnam's export of agricultural, forestry and fishery products reached 62.5 billion USD. In terms of markets by country, the US and China continue to be the two largest markets of Vietnam, with market shares of 21.7% and 21.6%, respectively.

These markets saw strong growth, especially exports to the United States, which increased by 24.6%, and China, which increased by 11%.

In terms of goods, the US is the largest importer of wood and wood products, accounting for 55.5% of Vietnam's total export turnover of 16.2 billion USD. Regarding seafood, the US imports 18.5% of the total export turnover of 10.07 billion USD.

According to statistics from the Customs Department, the export value of wood and wood products in February 2025 reached 1.03 billion USD, an increase of 33.9% compared to February 2024; of which, the export value of wood products reached 665.7 million USD, a decrease of 32.2% compared to January 2025, but an increase of 38.9% compared to February 2024.

In the first two months of 2025, the export value of wood and wood products reached 2.45 billion USD, an increase of 9.4% over the same period in 2024; of which, the export value of wood products reached 1.65 billion USD, an increase of 9.1% over the same period in 2024.

A report from the Import-Export Department (Ministry of Industry and Trade) shows that wood and wood product exports in the first two months of 2025 were favorable, with export values to major markets recording positive growth. The US market led the way in terms of wood and wood product export value, reaching 1.3 billion USD, up 9.5% over the same period in 2024.

Assessing the impact of this tariff change on the agricultural sector, Deputy Minister of Agriculture and Environment Phung Duc Tien said that the current new US tax rate will directly affect Vietnamese agricultural products. However, leaders of the agricultural and environmental sectors recommend that businesses need to stay calm and "adapt to all changes" to respond to market changes.

Deputy Minister Tien also said: In the structure of Vietnam's agricultural market, in 2024, the US contributed 13.8 billion USD, ranking first, followed by China 13.6 billion USD, ranking second.

This structure shows that our advantage is tilted towards the US market. But when Vietnamese agricultural products enter the US, we face many barriers, such as anti-dumping tax or having equivalent standards, and we overcome them all.

The Deputy Minister of Agriculture and Environment recommends that during this period, businesses need to stay calm to respond to market changes.

“With the current new US tax rate, Vietnamese agricultural products will be directly affected, but we must "remain constant and adapt to all changes". We must focus on directing production, how to both improve productivity and quality, and reduce costs to compete with other markets," Deputy Minister Tien affirmed.

Deputy Minister Phung Duc Tien affirmed: During the tax imposition process, Vietnam will continue to consult with US management agencies.

"Currently, the US is a comprehensive strategic partner with Vietnam. In our current position, I believe we will have appropriate solutions," Deputy Minister Tien said.

Businesses need to stay calm to respond to market changes.

Deputy Minister Tien also emphasized that businesses need to focus on groups of solutions on science and technology, improve productivity and product quality, and meet the criteria, standards and regulations of the domestic market. At the same time, it is also necessary to expand export markets, not to depend on another market.

“We can exploit many markets, for example, the Chinese market with 1.4 billion people is the second largest import market for agricultural, forestry and aquatic products of Vietnam. If exploited well, Vietnam still has many products that can be exported to China, especially products that have signed the protocol such as frozen durian, seafood, crocodile...

In addition, the European market is also a large market, accounting for 44%. So we must both promote production and expand potential markets," Deputy Minister Tien said.

Regarding the export growth target for the agricultural sector this year, Deputy Minister Phung Duc Tien said: The Ministry of Agriculture and Environment recently held a meeting on the growth target of 4% in 2025. By the end of the first quarter, we expect to reach 3.69%. In each quarter, the second quarter usually increases higher than the first quarter, and the fourth quarter increases higher than the third quarter. The growth target we set for the first quarter was 3.7%, and we have achieved approximately.

Secondly, the export target of agriculture, forestry and fishery products this year is 64-65 billion USD, as soon as the first quarter ended we reached 15.7 billion USD, an increase of 13.1% over the same period last year.

According to the leader of the Ministry of Agriculture and Environment, if there is an impact from the US market, we will have to discuss how to organize implementation in different sectors and fields.

Regarding seafood, which is considered a product heavily and directly affected when the US increases taxes, the Deputy Minister said it is necessary to review the structure of each industry, for example, the two key industries are tra fish and shrimp.

“Vietnam’s shrimp output is 1.3 million tons per year, which can be exported for 4.3 billion USD, while pangasius has the world’s leading productivity with an output of 1.65 million tons, worth over 2 billion USD. With the shrimp industry, we have to clarify how to renew the momentum of this industry to compete with India and Ecuador. As for pangasius, we already have advantages, so how can we promote them?” Deputy Minister Tien emphasized.

Regarding shrimp, the leader of the Ministry of Agriculture and Environment emphasized the need to thoroughly dissect to ensure that the US still recognizes the shrimp product as equivalent, when the US came to inspect in the past two years, Vietnamese shrimp always ensured quality.

Shrimp farming areas must switch to intensive farming instead of extensive farming to increase productivity, ensure the quality of the breed, increase the survival rate of the breed, and have high uniformity in output. Export shipments need to pay attention to the issue of heavy metals, microorganisms, and antibiotics, and must be limited to the maximum level so that we can maintain the market.