Vietnam wants to axe tariffs and grow its trade in forestry and fishery products with the United States, the world’s largest consumer market. It comes as a 50-strong delegation—led by Do Duc Duy, Vietnam’s Minister of Agriculture and Environment—currently in the US, where they will travel to Iowa, Ohio, and Washington, D.C., to meet with trade officials.
According to Minister Duy, the United States and Vietnamese industries are increasingly interconnecting, sharing supply chains, enhancing competitiveness and ultimately improving producers and consumers across the Pacific. However, to do this, Vietnam wants the United States to axe the 10% tariffs on Vietnamese products, effective April 2, and the reciprocal tariffs of 46% on all Vietnamese exports starting July 9.
“These measures are likely going to erode profit margins and reduce competitiveness for Vietnamese and American businesses,” said Nguyen Do Ann Tuan, Director General of the International Cooperation Department in the Ministry of Agriculture and Environment.
As it stands, Vietnam is the United States’ largest importer of hardwood and decorative plywood—used in construction, furniture, and crafts—with more than 223,000 cubic metres of plywood (30% of all imports) traded through West Coast ports last year. Indonesia (29%—or 217,000 cubic metres) and China (2% or 17,000 cubic metres) also contribute plywood for the country’s homebuilding industry. Last week, Wood Central reported that the Coalition of Fair Trade in Hardwood Plywood was busy petitioning the US Department of Commerce and the International Trade Commission to hit Vietnamese products with 134% duties for all plywood entering the United States.
- To learn more about the global supply chain of plywood, click here for Wood Central’s exclusive “sink or swim” story last year.
