The US's 90-day delay in reciprocal tariffs is not simply a matter of time. The tax suspension is not a test of the initiative, creativity and adaptability of businesses. For agricultural products, the US market is a very important output, accounting for more than half of total export turnover. Therefore, in addition to quickly processing orders, the strategy of reducing dependence on one market is also being implemented in parallel.

Last year, the wood industry earned more than $9 billion from exports to the US market, accounting for 56% of total turnover. According to businesses, this is Vietnam’s largest high-value furniture import market. However, with the current fluctuating and undecided tax policy, this strategy needs to be reconsidered.

Mr. Vu Hai Bang - General Director of Woodsland Company said: "We still export more than 50% of our output to Europe, in fact in recent years this is a market with slow but stable growth. In addition to the US, there are also markets such as Canada, Australia, and Korea supporting Woodlan during this period".

As for the seafood industry, the two main products, tra fish and shrimp, are also dependent on more than 50% of export turnover value. The 90-day tax deferral is also an opportunity for industries such as eel, offshore aquaculture and tilapia to have opportunities from the US market and new markets.

To maintain growth momentum in the second quarter, the Ministry of Agriculture and Environment also requires each industry to have a suitable market redirection strategy. The priority market order for redirection is based on two criteria. The first is turnover and growth rate. Vietnam's exports; Second is having FTAs.

In fact, businesses that have met standards for decades and continuously expanded their markets always have the composure to handle the current situation.

Phuc Sinh Joint Stock Company said that it has received pepper and coffee in 102 markets. The strategy of not putting all eggs in one basket is still creating growth opportunities for Vietnam when agricultural products have the advantage of being essential goods.

Source: https://baoquangninh.vn/dieu-chinh-chien-luoc-xuat-khau-nong-lam-thuy-san-3353496.html