Vietnamese furniture manufacturers discuss measures to import raw wood from the US

Delegates discuss at the forestry sector meeting on the morning of April 4 - Photo: BAO THANG

On the morning of April 4, Deputy Minister of Agriculture and Environment Nguyen Quoc Tri chaired a meeting of the forestry sector, focusing on discussing President Donald Trump's announcement of a 46% reciprocal tax on Vietnamese goods.

Proposal to study policies to support businesses investing in the US

At the meeting, Vice President and General Secretary of the Vietnam Timber and Forest Products Association Ngo Sy Hoai said that members of the association all determined the spirit of "not being sad or crying" and "must be brave" in this situation.

According to Mr. Hoai, compared to other industries, wood and wood products are among the groups forecast to be most affected by the new tax, because wood product exports to the US account for over 55% of the industry's total turnover (in 2024), nearly double the average of the whole economy (about 30%).

"The association has anticipated the possibility of the US raising tariffs on these products, but the forecast is only at 25%.

"The imposition of a 46% reciprocal tax surprised all of us," Mr. Hoai shared, adding that this was a challenge but also a motivation for businesses to radically change their growth model.

According to Mr. Hoai, businesses are still waiting for the Government to negotiate so that the US can consider reducing trade barriers and have policies that harmonize the interests of both sides, such as delaying the time to impose taxes.

In the immediate future, Mr. Hoai recommends that businesses pay attention to potential markets such as Japan and China because these are the two markets where we mainly export pellets and wood chips.

At the same time, increase processing to have more sophisticated and valuable products to affirm the Vietnamese brand in the international market.

In the long term, Mr. Hoai recommended that the Ministry of Agriculture and Environment, the Department of Forestry and Forestry Research study policies to support businesses investing in the US. This is something that President Trump welcomes and Vietnam has many opportunities, because the demand for wood products here is very large.

"In addition, the US exempts taxes on some items that meet a certain localization rate, or have raw materials originating from the US. If we import raw wood from the US, process it, and then export it back, we can enjoy tax incentives," said Mr. Hoai.

Workers at a wood factory in Tan Uyen city, Binh Duong province - Photo: BA SON

There are many items that President Trump wants to raise tariffs on.

A representative of the Department of International Cooperation (Ministry of Agriculture and Environment) said that early this morning, the unit contacted the US side and learned that there are many items that President Donald Trump wants to raise tariffs on that are not yet on the list subject to reciprocal taxes as announced on April 2.

This person also said that according to the research of the Department of International Cooperation, the US side will continue to review the items subject to tax, based on the direction of President Trump.

"The wood industry needs to stay in touch to continuously update information about this new tax and promptly have adjustment plans," said a representative of the Department of International Cooperation.

Concluding the meeting, Deputy Minister Nguyen Quoc Tri assigned the Forestry Department and Forest Protection Department to promptly compile data and report on issues related to the reciprocal tax proposed by the US. In particular, clarify how wood industry enterprises will be affected.

"We will consult with the Government and soon work with associations to find adaptive solutions," Mr. Tri emphasized.

Mr. Tri also directed that in April, the Department of Forestry and Forest Protection will coordinate with the Vietnam Timber and Forest Products Association to organize a wood industry conference to continue to assess the detailed impact and propose solutions to respond to the new US tax policies.

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Source: https://tuoitre.vn/my-tiep-tuc-ra-soat-cac-mat-hang-chiu-thue-theo-chi-dao-cua-tong-thong-trump-2025040416502905.htm