Vietnam’s fisheries exports face chances, challenges with Trump re-election
Vietnam’s fisheries exporters anticipate both opportunities and challenges with Donald Trump’s re-election, as his administration’s trade policies impact the U.S. market and global trade patterns, particularly in light of U.S.-China trade tensions, local media reported.
In recent years, U.S. demand for Vietnamese fisheries has remained robust despite high tariffs, generating $1.5 billion to $2.1 billion in annual exports. With a possible reduction in U.S. imports from China, Vietnam may find increased access to the U.S. market, creating growth prospects for exporters.
However, U.S. protectionist policies, including anti-dumping and countervailing duties, require Vietnamese exporters to meet stringent quality standards. Trump’s heightened food safety regulations may also raise production costs for Vietnamese companies.
Ms. Le Hang, the Vietnam Association of Seafood Exporters and Producers (VASEP)’s Communications Director, advised that Vietnamese firms must prioritize sustainability and quality, with compliance to the U.S. Food and Drug Administration (FDA) standards and transparent supply chain practices, building trust with U.S. distributors and consumers.
Vietnamese firms are urged to adopt internationally recognized standards like GlobalGAP and ASC, allowing for sustainable growth in the competitive U.S. market amid tariffs and evolving trade defense policies.
In the first ten months of this year, Vietnam’s fisheries exports to the United States hit $1.5 billion, putting the U.S. market in the first place among major importers of Vietnamese fisheries, alongside China.
Seafoodnews
