After a temporary suspension of the US reciprocal tax, on July 2, after a phone call between General Secretary To Lam and President Donald Trump, the two countries Vietnam and the US reached an agreement on reciprocal taxes. Accordingly, goods from Vietnam entering the US will be subject to a 20% tariff, instead of the 46% tax rate as previously announced (April 2025).
Along with that, tariffs will increase to 40% for “transshipped” goods from Vietnam to the US; US products entering Vietnam will enjoy a 0% tax rate.
According to Ha Tinh export enterprises, the above tax rate is temporarily acceptable. Especially, in the context that other countries have to pay higher reciprocal tax rates than Vietnam (for example: Japan, Korea, Malaysia, Kazakhstan and Tunisia... pay 25% tax), this is an advantage for Vietnamese enterprises to change, looking for opportunities to bring goods to the US and many other markets in the world .
Mr. Pham Van Tuc - Director of General Department, Nam Ha Tinh Seafood Import-Export Joint Stock Company (Vung Ang Ward) said: “Seizing the opportunity, the company has restructured and restarted production since June. In addition to the traditional Japanese partner, the company is currently receiving many orders from other countries such as Korea, China, etc. In particular, the Chinese partner previously imported a lot of seafood from the US. However, after the US and China had trade tensions, they turned to other countries, including Vietnam. In the current context, we believe this will be a favorable opportunity for businesses. It is expected that in August, the company will launch a production plan: squid, shrimp, breaded fish to diversify products; meet the export markets of many countries".
To "transform" in the current wave of global tariffs, Nam Ha Tinh Seafood Import-Export Joint Stock Company has invested more than 60 billion VND to replace and upgrade the production line. The company is actively recruiting about 120 more workers to meet the new line. On average, this enterprise produces 1.8 - 2 tons of raw materials per day. Restarting production since June, Nam Ha Tinh Seafood Import-Export Joint Stock Company has achieved a revenue of more than 8 billion VND. With positive signals from the export market, the company is striving to achieve a revenue of 40 billion VND by the end of 2025.
Not only businesses, but also cooperatives in Ha Tinh are also looking for and seizing opportunities to export goods to the world through intermediaries outside the province. At Nguyen Lam Cooperative (Ky Anh Commune), workers are currently busy producing goods for export to the US. The standards for exported sesame rice paper are high. Therefore, in all stages, Nguyen Lam Cooperative strictly supervises, inspects and tests. The origin of raw materials for production is listed publicly and clearly by the unit.
Mr. Le Van Duan - Director of Nguyen Lam Cooperative said: “Since the beginning of the year, we have exported more than 600,000 products to the markets of Russia, the US, and South Korea; thereby achieving revenue of 1.2 billion VND, accounting for about 15% of total revenue and increasing by 10% compared to the same period in 2024. The US's imposition of reciprocal tariffs on Vietnam's agricultural exports has somewhat affected the production of the Cooperative, so we are considering the profit when exporting to other countries. However, the difficulty is only temporary. In the long term, the markets of other countries are still very potential, so the Cooperative will continue to invest in production lines, machinery and focus on improving product quality to meet export standards".
According to statistics from the Department of Industry and Trade, the province currently has about 100 enterprises participating in import and export; of which, about 30 enterprises directly export. In the first 6 months of the year, Ha Tinh's export turnover reached 805 million USD, down 26.65% over the same period in 2024. The decline in import and export was mainly from Formosa Ha Tinh Steel Corporation - the enterprise with the largest export turnover in Ha Tinh and whose products are exported to the US market. Accordingly, in the first 6 months of the year, FHS's export turnover only reached 662.7 million USD, down 32.11% over the same period in 2024.
According to the leader of the Department of Industry and Trade, since the beginning of the year, the Ministry of Industry and Trade has repeatedly issued decisions to impose anti-dumping taxes on a number of steel products from other countries, which has benefited Formosa Steel Corporation. Instead of focusing on exports with much pressure from the US tariff policy, Formosa has shifted to seeking more domestic markets to minimize the impact. Therefore, Ha Tinh's export turnover in the first 6 months of the year decreased compared to the same period.
Mr. Vo Ta Nghia - Deputy Director of the Department of Industry and Trade said: "Ha Tinh's export turnover to the US market only accounts for a very small part with products such as steel, textiles, etc. Therefore, the US tax policy does not affect the province's export activities too much. Although it does not have a direct impact, the tariff policy will still indirectly affect export enterprises due to fluctuations in the supply chain, increasing competitive pressure. In addition, increasing export barriers can cause surplus goods to return to the domestic market, making competition more fierce."
Faced with difficulties caused by tariff barriers, the Department of Industry and Trade recommends that Ha Tinh enterprises proactively grasp and closely follow current news, especially tax rates adjusted at the present time, to develop appropriate production and business plans.
Along with that, businesses proactively seek new markets, focus on improving product quality and value, optimizing production costs and complying with rules of origin to meet the strict standards of export markets.
Source: https://baohatinh.vn/doanh-nghiep-ha-tinh-chuyen-minh-truoc-lan-song-thue-quan-moi-tu-my-post291459.html
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