Find solutions to export goods

Have time to prepare

According to the report of the Vietnam Timber and Forest Products Association, the US market accounts for more than 55% of the country's total wood export turnover. In Tuyen Quang province, according to statistics from the Department of Industry and Trade, there are 8 enterprises exporting products to the US market, of which 50% of wood output; 80% of textile products of enterprises enter this market. The 90-day tax deferral will create conditions for enterprises to prepare effectively, not be passive in the face of competitive pressure, output. At the same time, there will be more time to learn about new markets, diversify markets.

Mr. Hoa Qing Yi, Deputy General Director of Huilong Wood Pvoducts Vietnam Co., Ltd. (Thang Quan - Yen Son Industrial Park) said: The unit has over 98% of its wood products exported to the US. Previously, the unit's wood products exported to the US enjoyed a 0% tax rate, creating a competitive advantage in price compared to competitors in other countries.

When the US announced a tax of up to 46%, businesses were worried that product prices would increase significantly, making it difficult to maintain production due to competition. However, by the morning of April 10, the US had postponed the reciprocal tax for 90 days and imposed a 10% tax during this time. This is an opportunity for businesses to have time to adjust their production and market plans, and adapt better in the coming time.

Leaders of the Department of Industry and Trade grasp the production situation of Huiling Products Vietnam Co., Ltd. (Thang Quan Industrial Park - Yen Son).

The information from the US immediately had a positive impact on businesses. Mr. CHEN CHIEA, Deputy General Director of Acacia Woodcraft Co., Ltd., was excited: "I am very pleased that the Vietnamese Government has contacted the US to negotiate a 90-day postponement and apply a 10% tax rate during this time.

In the immediate future, the company will focus on producing signed orders and promoting the search for new markets so that when the official tax is imposed, the company will not suffer a sharp decline in production. We hope that the Vietnamese government will negotiate to bring the import tax on wooden furniture back to normal levels as before.

Textile and garment manufacturing enterprises also “breathed a sigh of relief” when the US temporarily postponed the reciprocal tax. Mr. Park Sang Joon, Production Director of Seshin VN2 LLC (Long Binh An Industrial Park) said: The company's products exported to the US market are subject to a 10% tax rate, so there will be no changes in the next 3 months. However, to be proactive in production and business, and develop long-term, we continue to work with partners to sign long-term contracts, and agree to have partners support if the tax rate is higher than the current one.

Find sustainable solutions

Faced with a volatile world and challenging export markets, especially for the province's key products such as textiles, wood, packaging, etc., the trade surplus with the US requires businesses to have fundamental and flexible solutions to adapt long-term and develop in the new situation.

Operating for nearly 10 years with 3 factories producing interior and exterior wooden furniture and industrial boards for export, Woodsland Tuyen Quang Joint Stock Company has stable export products to the US and European markets. In 2024, the company's revenue will reach 1,600 billion VND, an increase of 23% compared to 2023, contributing over 60 billion VND to the budget.

Mr. Le Quoc Khanh, Director of Woodsland Tuyen Quang Joint Stock Company shared: In recent years, Woodsland Tuyen Quang Joint Stock Company has also invested in modern machinery, focusing on producing high-quality, high-value products, diversifying products from kitchen cabinets, furniture, flooring, industrial boards... plus diversifying consumer markets. The company's products are present in the US market and over 10 European and Asian countries.

Production of fashion products for export to the US market by Seshin VN2 LLC (Long Binh An Industrial Park).

Export output to the US accounts for 25% but is high-quality, high-value products. Before the news that the US imposed a 46% tax, businesses were quite worried. However, the US has postponed the imposition of reciprocal taxes for 90 days, businesses have been assured of production, striving to exceed the plan for the second quarter of 2025. At the same time, businesses are rebuilding production and export plans; working with partners to negotiate situations to respond to challenges of market fluctuations... Mr. Khanh hopes: "In addition to the Government's policies, businesses hope the province will also have flexible solutions to support businesses to maintain and develop production in the coming time".

In order to promptly grasp the production, business and export situation of enterprises exporting goods to the US, on April 8, leaders of the Department of Industry and Trade directly worked with leaders of Seshin VN2 LLC, MSA YB Company (Long Binh An Industrial Park); Hitarp Vietnam LLC (Phuc Ung Industrial Park, Son Duong); Woodsland Tuyen Quang Joint Stock Company, Huiling Products LLC, Acacia Woodcraft LLC (Thang Quan Industrial Park, Yen Son).

Comrade Loc Kim Lien, Deputy Director of the Department of Industry and Trade, said: The news that the US has not imposed reciprocal tariffs has brought peace to production. However, this is also an opportunity for businesses to shake up their production processes; find new markets. The Department of Industry and Trade has proactively worked with large enterprises producing key export products to grasp the specific impact of the US's 46% tariff on each enterprise. At the same time, grasp the thoughts, aspirations, and proposals of each enterprise for the industry, province, and Government, and work with enterprises to find ways to maintain production and ensure jobs for workers.

At a working session with ministries, branches, Vietnamese representative agencies abroad, associations, and businesses to proactively adapt to the new situation of international trade on the afternoon of April 7, Prime Minister Pham Minh Chinh requested calmness regarding the US's reciprocal tax policy. The spirit of non-confrontation, non-tension, non-complication of the issue; smart, sober, flexible, creative choices, choosing the most effective option to implement.

Vietnam is moving towards negotiating a list of goods subject to equal, harmonious and mutually beneficial taxes. In addition to the US market, it is necessary to take advantage of signed FTAs ​​in the spirit of diversifying markets, products, supply chains, improving the quality of goods, promoting traditional markets, and penetrating potential markets. Along with that is promoting growth, circular economy, digital economy, green economy, etc.

The Prime Minister requested ministries and sectors to study more solutions to support businesses, including studying tax, fee and charge policies; reducing interest rates, sacrificing part of profits, and providing an incentive package for the wood and seafood industries in the direction of upgrading the existing incentive package. Studying a support package for science and technology, innovation; studying taxes related to family deductions...; handling issues related to the origin of goods that affect international commitments; strengthening the protection of intellectual property rights...

Temporarily with a 10% tax rate on the US market for the next 3 months, businesses can rest assured to carry out their export production plans. However, this is also the time for businesses to be proactive, making efforts to find solutions regarding markets, capital, raw materials, applying science and technology, modern machinery in production to create high-quality products to meet diverse customers and markets, and best respond to all market fluctuations.

Source: https://baotuyenquang.com.vn/tim-giai-phap-xuat-khau-hang-hoa-209857.html