Vietnam has called for a fair deal from the U.S. regarding its imposition of import tariffs on Vietnamese products, said a representative from Vietnam’s Ministry of Foreign Affairs at a press conference on Thursday.
Ministry spokeswoman Le Thi Thu Hang said commerce disputes between Vietnam and the U.S. should be settled in accordance with World Trade Organization guidelines and reflect the comprehensive partnership between the two countries.
“The economic-commerce relationship between Vietnam and the U.S. is still growing, and the two sides are actively working on problems that are in both countries’ interests,” she added.
The U.S. Department of Commerce (DOC) has decided to apply a higher tariff for Vietnamese pangasius exports following the completion of an anti-dumping investigation on March 15. The new tariff stands at $7.74 per kilo on products from the two companies that were the subject of the investigation, while other exporters face a fee of $3.87 per kilo, the highest tax the U.S. has ever imposed on Vietnamese pangasius. Four days later, Vietnam’s Ministry of Industry and Trade issued a statement saying the toll was “not objective” and reflected a protectionist stance.
Earlier in March, the DOC slapped a preliminary tax of 25.36 percent on Vietnamese shrimp, the highest rate in the past 13 years. According to the Vietnam Association of Seafood Exporters and Producers, a mistake has been made in the calculation of dumping margin. The group has asked the U.S. to reconsider the tariffs, saying they could have an impact on importers in the U.S. as well as Vietnamese exporters.
Back in February, the DOC asked President Donald Trump to impose steep curbs on steel and aluminum imports from China and other countries, including Vietnam. According to the DOC’s proposals, Vietnam will face a 53 percent tariff on its steel and aluminum products exported to the U.S. Vietnam’s Ministry of Industry and Trade has since issued a statement saying Vietnamese aluminum products only accounted for a small percentage of U.S. imports, and asked the U.S. to reconsider the tariff. President Trump has until next Wednesday to decide if the motion will pass.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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