Vietnam

Vietnam looks to ease US pork tariffs

Pork

The move is expected to increase frozen pork imports from the US and narrow the trade deficit with Vietnam.

Posted on Oct 11 ,12:35

Vietnam looks to ease US pork tariffs

Vietnam is ready to ease tariffs for US pork, as the Asian country looks to keep meat prices under control. Since February 2019, Vietnam is fighting against ASF and pork imports have increased steadily for the last couple of years. For the first six months of this year, Vietnam's meat imports have reached $1.82 billion.
Easing import restrictions is seen as part of a strategy to improve Washington-Hanoi relations to counter the rising influence of China. Tariffs are expected to be lowered to 10% from 15%. The agriculture ministry is expected to ease tariffs on other farm commodities like wheat and corn.
Between January and June, Vietnam imported 70,000 tonnes of pork, mainly from Russia, the US, the Netherlands and Poland. Last year, Vietnam imported more than 141,000 tonnes of fresh, chilled, or frozen pork, worth $334.44 million, up 382% in volume and 502.9% in value compared to 2019.

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