Deputy Minister of Agriculture and Environment Phung Duc Tien shared this with the press about the US imposing a 46% tax on Vietnamese goods, on the sidelines of a conference on opportunities, challenges and solutions for sustainable development of the pig farming industry organized by the Department of Animal Husbandry and Veterinary Medicine on the morning of April 3.

According to Mr. Tien, in the export structure of Vietnam's agricultural, forestry and fishery products in 2024, the US will lead with an export turnover of about 13.8 billion USD, a trade surplus of about 10.8 billion USD.

In the first 3 months of this year, the US continued to lead with 20.2% market share (3.17 billion USD), up 13.5% over the same period last year.

"Vietnamese agricultural products exported to the US also face many anti-dumping barriers, which must be recognized as equivalent, but we have overcome them all.

With President Trump imposing a 46% tax on Vietnamese goods, our agricultural products will be directly affected. However, with the spirit of adapting to all changes, we must focus on directing production to improve productivity, quality, and reduce costs to compete with other markets.

Along with that, during the tax imposition process, we still have to continue to consult with US regulatory agencies.

Recently, the Government held two meetings to discuss this issue. We firmly believe that with scientific and technological solutions, improving productivity, quality, and reducing product costs, we will be able to meet the criteria, standards, and regulations of the US market," said Mr. Tien.

Mr. Tien also said that the agricultural sector will promote the expansion of agricultural exports to other markets, avoiding dependence on one market.

"For example, the Chinese market, we are exporting the second most. As the Prime Minister said, if the Vietnam - China relationship is good, many other agricultural products can be exported, especially some products that have signed the protocol such as frozen durian, crocodile, long-tailed monkey... In addition, the European market is also a large market (accounting for 44%) with a lot of potential and advantages.

Faced with the impact of the US market, we will have to discuss how to organize implementation in industries and fields, and how to export to achieve the target of 64-65 billion USD assigned by the Government," Mr. Tien emphasized.

According to Mr. Tien, seafood will be one of the products that will be most affected when President Trump imposes a 46% tax on Vietnamese goods.

"The structure of Vietnam's seafood exports to the US in the first 3 months of this year reached over 300 million USD (accounting for about 15%). From this structure, we will review the industry structure, especially the two main products of shrimp and tra fish.

We will discuss in detail how to create new motivation and renew the motivation for these two products so that shrimp can compete with India and Ecuador. As for pangasius, we have an advantage, so we should promote it. Another part is exploited seafood products" - Mr. Tien said and said that he will meet with associations and seafood export enterprises to discuss direct solutions to clear the way.