What does a second Donald Trump presidency mean for Vietnam's seafood industry? Le Hang, communications director for the Vietnam Association of Seafood Exporters and Producers (VASEP), told Vietnam business news site DNVN that it could really go either way.
"With Donald Trump re-elected as president, the US's unique trade policies under Trump may create both opportunities and challenges for Vietnam's seafood exports in the coming time," he reportedly told the outlet.
As for opportunities, if Trump decides to engage in a trade war with China -- which includes threats of 60% tariffs on Chinese imports -- the US may begin seeking alternative sources for seafood products they previously imported from China. Vietnam's shrimp and pangasius industry could benefit from that potential situation, said VASEP.
At the same time, VASEP warns that Vietnam's seafood industry could also face US trade defense measures. Anti-dumping duties, anti-subsidy duties, as well as strict quality requirements, are all possible actions that producers and exporters in Vietnam could be facing when Trump officially takes office on Jan. 20, 2025, according to DNVN.
In 2023, Vietnamese seafood exports to the US were valued at $1.56 billion, as reported by Vietnam Times.
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