Vietnam

Vietnam lowers tariff on US pork imports

Pork

The measure will be implemented on July 1, 2022.

Posted on Dec 02 ,09:53

Vietnam lowers tariff on US pork imports

Vietnam announced it will lower its Most Favored Nation (MFN) tariff on imported frozen pork to 10% from 15%. The reduction is expected to be implemented on July 1, 2022. "Vietnam consumes a lot of pork, but it has been dealing with African swine fever. That has decimated its domestic pork production and increased its reliance on imported pork. The tariff cut will let us send more product to Vietnam to fill its need,” said Jen Sorenson, President of the National Pork Producers Council.

While the rate reduction will help, because the United States does not have a free trade agreement with Vietnam, the US pork industry remains at a competitive disadvantage to pork-supplying countries that do, including the European Union, Russia and countries in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. CPTPP countries, for example, have a duty of only 7.5% on frozen pork exports going to Vietnam.

Because of Vietnam’s high tariff on and non-tariff barriers to US pork and the lack of a free trade agreement or preferential trade deal between the United States and Vietnam, the U.S. pork industry shipped only about 25,000 tonnes of pork worth $54 million to Vietnam in 2020. For comparison, although Vietnam consumes more pork than Mexico – the U.S. pork industry’s No. 2 export market by volume and a member of the U.S.-Mexico-Canada Agreement – the United States exported more than 735,000 tonnes valued at $1.2 billion to Mexico last year. NPPC has been urging the administration, which helped facilitate Vietnam’s tariff reduction, to join the 11-nation CPTPP. The United States was part of that trade pact’s predecessor, the Trans-Pacific Partnership, which NPPC strongly supported, but the Trump administration withdrew from the deal before it was finalized.

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