Tariff turbulence knocks U.S. from top spot in Vietnam’s seafood import market

Sharp surge in may, steep decline in june

Month by month, Vietnam’s seafood exports to the U.S showed significant growth in March, April and particularly May 2025, which surged b 61% increase year-on-year, reaching a peak of over 234 million USD, the highest monthly export value in the first half of the year. However, June saw a sharp decline of nearly 18% compared to the same period last year, falling to just USD 131 million.

The three key product groups - shrimp, pangasius, and tuna - continued to drive Vietnam’s seafood exports to the U.S, contributing over 700 million USD in the first six months, accounting for 77% of the total export value.

Shrimp exports reached more than 341 million USD, up nearly 13% year-on-year. Notably, shrimp exports soared by 66% in May but then plunged by 36.5% in June.

Pangasius exports recorded more stable growth, reaching 175 million USD in the first half - an increase of nearly 10%. After a slight decline in March and April, pangasius rebounded strongly in May and maintained growth in June, indicating steady demand for this product despite market volatility.

For tuna, export revenue for the first six months reached nearly 184 million USD, a 6.5% increase. However, similar to shrimp, tuna exports saw a strong increase in May (up 37.5%) followed by a sharp drop of over 40% in June.

U.S loses top spot due to tariff instability

Once the leading market for Vietnamese seafood imports for many years, the U.S currently accounts for 17% of Vietnam’s seafood export value in the first half of 2025. Notably, the U.S. has been surpassed by China, which imported 1.1 billion USD worth of Vietnamese seafood, a remarkable 45% increase compared to the same period in 2024, securing the top position.

This shift is an inevitable consequence of unstable tariff policies. Since April 2025, the Trump administration has repeatedly used countervailing tariffs as a trade negotiation tool, issuing a series of announcements and frequent changes regarding tariff rates, implementation dates and affected entities.

Initially, the additional tariffs were cheduled to take effect from July 9, 2025. However, just before this deadline, President Trump unexpectedly announced a delay in enforcement until August 1st. More strikingly, both the timing and the rates have fluctuated constantly - from a global 10% rate to much higher rates for specific countries, such as 36% for Thailand and 32% for Indonesia.

These rapid changes have created an unprecedentedly uncertain trade environment, severely impacting production planning, contract agreements and delivery schedules for businesses in both the U.S. and exporting countries.

The constant imposition, postponement, and revision of tariffs have left U.S. importers in a state of anxiety, unable to accurately calculate import costs. Meanwhile, Vietnamese exporters also face difficulties in adjusting prices, delivery timelines and planning long-term orders.

For an industry highly dependent on seasonality and logistics costs like seafood, this trade instability further increases financial risks and causes ripple effects throughout the supply chain - from farming and processing to transportation and payment.

Reshaping strategies to adapt

Amid the emergence of a new, unpredictable global trade order, Vietnamese seafood enterprises have no choice but to proactively restructure their strategies. Several strategic directions are being prioritized, including:

1. Market Diversification: Reducing overreliance on the U.S. market and expanding presence in Free Trade Agreements (FTAs) such as CPTPP, the EU, and South Korea.

2. Supply Chain Optimization: Minimizing additional costs and logistics risks through better supply chain efficiency and resilience.

3. Emphasis on Transparent Traceability and Origin Verification: This is a critical factor as countervailing tariff policies increasingly tied to strict origin requirements. Enterprises must ensure the entire supply chain - from raw materials to processing and export - is closely monitored and fully documented to prove legal origin and avoid accusations of “tax evasion” or “illegal transshipment.”

4. Technology and Digital Transformation: Leveraging electronic traceability and smart order management systems to enhance responsiveness to policy and market fluctuations.