There is no shortage of opportunities for wood businesses in the US.

Despite the potential risks from reciprocal taxes, Vietnamese wood enterprises still have great opportunities to expand their market share in the US, while being proactive with a more abundant and competitive supply of raw wood materials.

Workers work in a wood processing factory in Long An - Photo: AA

Many sources of raw wood

Many international buyers have flocked to the Hawa Expo 2025, the furniture and interior export fair taking place in Ho Chi Minh City. The fair attracted more than 350 booths from interior and exterior furniture export manufacturers.

Hawa Expo 2025 is a series of events jointly organized by the five largest wood industry associations in the country, including Viforest, HAWA, BIFA, DOWA, and FPA Binh Dinh, from March 5 to 7. This is a place to display, help businesses expand their networks, and increase international orders.

Mr. Vo Quang Ha, Chairman of Tan Vinh Cuu Joint Stock Company (Tavico) - a business specializing in importing and distributing raw wood from many countries - noticed the strong presence of wood suppliers from Canada at this year's fair.

"Before the Trump administration imposed tariffs, Canadian businesses proactively sought new markets for their raw wood resources," said Mr. Ha.

The imposition of tariffs and trade retaliation measures between countries may affect the supply chain of raw wood, but it can also be more abundant, with guaranteed quality and more competitive prices.

Recent moves by the US administration show a particular concern for the issue of trade surplus and how to calculate reciprocal taxes (there is currently no specific method).

Mr. Do Ngoc Hung, Head of the Vietnam Trade Office in the US, said that in early March 2025, the White House made a remarkable announcement.

Accordingly, President Trump requested the Department of Commerce to investigate under Section 232 of the Trade Expansion Act of 1962 on wood and wood products.

The reason given is that the US spends more than 10 billion USD every year to develop construction materials technology, including the production process of advanced wood products such as laminated wood.

This sets a precedent that allows the US to initiate investigations into any item it believes could threaten national security.

The US Department of Commerce will complete an investigation report within 270 days, considering whether timber imports affect national security and proposing solutions.

Mr. Hung said this process also includes assessing domestic demand, domestic production capacity and the role of foreign suppliers, including Vietnam.

Don't lose the domestic market

According to the US International Trade Commission, among the three largest markets supplying wooden furniture (including China, Vietnam, EU), the US only increased its imports of wooden furniture from Vietnam.

This shows that Vietnamese furniture products have met the market's consumer demand. Businesses in the industry expect that the export turnover of wood and wood products to the US this year could reach over 10 billion USD.

"Vietnamese wooden furniture has a solid position and foothold in the US market" - Mr. Hung commented after working and observing at exhibition fairs and wooden furniture retail chains in the US.

Visitors talk with a representative of a business supplying walnut wood materials, interior design and construction at Hawa Expo 2025 - Photo: HONG PHUC

However, to ensure sustainable development, Mr. Vo Quang Ha said that the Vietnamese wood industry needs to analyze export turnover in detail according to each market group and carefully evaluate the supply chain, especially when there is participation of businesses from many different countries.

Not only focusing on export, Mr. Ha said that the domestic market is also full of potential with a consumption scale of wooden furniture of about 5 billion USD, but has not yet received due attention from many businesses.

Besides proactively supplying raw wood with clear origin, the Vietnamese wood industry needs to invest more in design.

Chan John, regional director for Southeast Asia and Greater China at the American Hardwood Export Council (AHEC), said this is a way to increase product value and international competitiveness.

At the same time, wood businesses should also seek to expand their position in the domestic market.

Opportunities for Vietnamese wood businesses

Mr. Nguyen Huu Thong, director of Hoang Thong Wood Company, commented that with the "Make America Great Again" policy, President Donald Trump is promoting business establishment and creating more jobs for the American people.

This could be an opportunity for Vietnamese wood enterprises to seek new investment methods, take advantage of production costs in Vietnam, and at the same time combine with research, market development and marketing teams in the US.

Source: https://tuoitre.vn/khong-thieu-co-hoi-cho-doanh-nghiep-go-tai-my-20250305223219749.htm