Vietnam's fruit and vegetable sector is expected to experience minimal effects from President Donald Trump's new tariffs. Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, noted that the trade deficit with the U.S. means limited impact.
Trump announced 46% tariffs on imports from Vietnam, effective April 9, as part of a global tariff strategy. The tariffs are 34% for China and 20% for the EU. Nguyen stated that the tariffs would not apply universally, with products where the U.S. has a trade deficit facing higher taxes.
In 2024, Vietnam exported $360 million in fruits and vegetables to the U.S., making up 5% of the country's total export turnover for these items. Conversely, Vietnam imported $540 million worth from the U.S., indicating a trade deficit. Consequently, the impact on Vietnam's industry is projected to be minimal.
Nguyen highlighted that even if tariffs affect Vietnamese fruits and vegetables, businesses would adapt. "Nearly all Vietnamese fruit and vegetable companies do not solely export to the U.S. but diversify their markets. Therefore, if they cannot export to the U.S., they will adapt by selling to other markets."
He added that companies would focus on processing and recalculating costs to maintain competitive pricing in markets with lower or no tariffs. In 2024, Vietnam's fruit and vegetable exports hit a record $7.2 billion, according to the Ministry of Agriculture and Environment.
In Q1 2025, exports to the U.S. constituted 9.6% of Vietnam's total. March 2025 saw an estimated $450 million in exports, totaling over $1.1 billion for Q1, an 11.3% decrease from 2024.
Source: The Investor