Businesses flexibly adapt to reciprocal taxes from the US

The US imposes a reciprocal tax on goods originating from Vietnam at 20%, a tax rate that many economic experts and businesses consider acceptable within the self-adjustment and adaptation capacity of businesses. This is being demonstrated by many businesses in Can Tho through efforts to improve product quality, standardize production processes, meet strict food safety standards and expand markets.

Short-term and long-term responses

According to Mr. Nguyen Phuong Lam, Director of the Vietnam Federation of Commerce and Industry (VCCI) Mekong Delta branch, on July 31, the US President signed a decree applying global reciprocal tax rates to countries with economies , trade, and commerce with the US, effective from August 7, 2025. Accordingly, the tax rate that the US applies to goods originating from Vietnam has been reduced from 46% to 20%.

Minh Phu - Hau Giang Seafood Joint Stock Company constantly innovates its production process to improve product quality. In the photo: Shrimp processing at Minh Phu - Hau Giang Seafood Joint Stock Company.

Mr. Lam cited: "Overall, countries in the world have lower tax rates than Vietnam's 20% rate, only a few countries such as Brazil and India have higher rates than Vietnam. However, countries similar to Vietnam and especially in Southeast Asia such as Indonesia, the Philippines, and Thailand have a tax rate of 19%. Compared to the tax rates of other countries, our 20% tax rate is not too high and is acceptable."

Explaining further, Mr. Nguyen Phuong Lam said that the tax rate difference between Vietnam and Southeast Asian countries is insignificant. Meanwhile, the export turnover of goods from Vietnam to the US is much higher than that of other countries in the region. In 2024, Vietnam's exports to the US reached 119.5 billion USD, while the export turnover of goods to the US from some Southeast Asian countries only reached 30-40 billion USD. Therefore, although the reciprocal tax difference has an overall impact, it does not have much impact in many fields and industries.

According to experts, the current tax rate was predicted in advance and is the result of the Government's negotiation efforts. The problem is that Vietnamese businesses need to prepare response plans in the short and long term.

According to the functional sector, in some products, the US is not a very large market for our businesses. Besides, Vietnam has signed many bilateral and multilateral trade agreements, this is a great advantage for our goods to compete with goods from countries with high export turnover in the region.

According to VCCI Mekong Delta branch, businesses need to adjust their strategies, diversify and focus on markets where they have advantages. The imposition of US tariffs this time also shows that in order to improve competitiveness, businesses need to cooperate to exploit common advantages to reduce costs, especially between units with similarities in distribution, production and logistics systems. This coordination helps businesses optimize resources and increase competitiveness against rival businesses from countries in the region. In the long term, the US market may adjust after reviewing and evaluating current tax rates.

Efforts to diversify export markets

Minh Phu - Hau Giang Seafood Joint Stock Company, Chau Thanh Commune, Can Tho City, specializes in producing and supplying processed shrimp products, exporting to countries around the world. According to Ms. Le Thi Minh Phu, General Director of Minh Phu - Hau Giang Seafood Joint Stock Company, in the first months of this year, the Company has had many advantages in terms of raw material sources, signing more orders from foreign partners. The company's products are currently exported to 50 countries around the world, especially in demanding markets such as the United States, Japan, Australia and European countries... In the first 7 months of 2025, the export output reached 12,740 tons, worth over 138 million USD. Minh Phu - Hau Giang sets a target of 50,000 tons in 2025.

"The reciprocal tax from the US has been reduced to 20%, the company hopes that the Government will continue to support businesses through negotiations so that this tax can be reduced further, to the best level for the seafood industry. From now until the end of the year, Minh Phu - Hau Giang will maintain stable orders and ensure growth. The company has also made changes, increasing investment in exploiting other potential markets besides the US market. Currently, in Minh Phu's sales proportion, the Japanese market is leading with 24.1%, the US market is third with 14.7%", Ms. Le Thi Minh Phu added.

As for Cuu Long Fruit Garden Joint Stock Company, in Thoi An Dong Ward, Can Tho City, the enterprise specializes in sustainable agricultural production and developing fruit gardens according to international standards, producing fruit juice, providing products for the high-end market segment, serving exports, with a raw material area of ​​about 200 hectares in the Mekong Delta provinces. Mr. Le Van Dong, General Director of Cuu Long Fruit Garden Joint Stock Company, commented that for goods exported to the US, the key issue is not the tax rate, but the competitiveness determined by the quality of the goods.

"The US market will prioritize quality over quantity, because the price of goods is determined based on the quality of the product, that is the key factor. With 25 years of experience in the field of sustainable agriculture and traceability, our entry into the US market is also a coincidence, when partners proactively seek us out. Currently, we are fully prepared, focusing on ensuring the best quality for each product. The goal is to conquer the customer segment that cares about health, and values ​​brand value more than output, because this is a high-end segment," Mr. Le Van Dong shared.

Article and photos: MONG TOAN

Source: https://baocantho.com.vn/doanh-nghiep-linh-hoat-thich-ung-voi-thue-doi-ung-tu-my-a189893.html