Opportunity for Vietnam to promote tuna exports to the US
![]() | How will the real estate market be in 2018? |
![]() | Vietnam sets sights on Middle East for tuna exports |
![]() | Tuna exports to emerging markets on the rise |
![]() |
Packaged tuna exports. Photo: T.H. |
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the US-China trade war is escalating as both sides implement taxation policies on imported goods. Countermeasures on both sides will drastically reduce Chinese tuna exports to the United States and vice versa.
"Is this an opportunity for Vietnam to supply tuna products to both countries”?,VASEP said.
According to statistics from the World Trade Center (ITC), China is currently the fifth largest tuna supplier to the United States. In 2017, the United States imported 23,500 tonnes of tuna products from China, worth $ 127 million, up 16 percent in volume and 28 percent in value over the same period in 2016.
In particular, canned tuna products accounted for 94% of total US tuna imports. The remainder being fresh and frozen tuna products.
Meanwhile, the United States is currently the fourth largest supplier of tuna to China. In 2017, the United States exported nearly 9,000 tonnes of tuna products to China, worth nearly $US 18 million. Fresh and frozen tuna are the main products of the United States which are exported to China, accounting for 99% of China's total tuna imports.
The US Government has listed more than 6,000 imported items from China that it intends to impose tax in early September 2018. Among them are fresh and frozen tuna products, pushing tuna products on the trade dispute between the two countries.
Skipjack tuna, yellowfin tuna, albacore tuna, bigeye tuna and fresh and frozen bluefin tuna are on the list of products subject to a 10% duty, but this list does not include tuna fillets and canned tuna. Other tuna products are also mentioned in this plan, including fresh and frozen products.
This is due to the fact that the application of the tariff will negatively affect the tuna industry. And no mention is made for tuna fish such as tuna (Euthynnus Affinis) and tuna (Auxis Thazard). Processed tuna products may be included on this list.
Recently, China has also announced changes in import taxes. Accordingly, the current tariff for frozen whole tuna (albacore, yellowfin, bigeye, and bluefin tuna) will not be subject to the provisional MFN (most favoured nation) tariff and the tariff for fresh tuna and frozen tuna will decrease from 12% to 7%.
Thus, if there is no objection, from September 2018, the import tax on fresh and frozen tuna from China to the United States will increase. This will enable other countries to boost the export of fresh and frozen tuna to the United States.
But for canned products, the reality of the US-China trade war has little effect on China's tuna exports to the United States.
This is because China is now the largest supplier of tuna fish products, accounting for 70% of the total US imports. These products are sold as light cut tuna, mainly in the field of food service.
Chunk light tuna is usually skipjack. This tuna species is generally of lower quality and cheaper, thus creating unhealthy competition and downgrading of the US market. This product is not included on the list of US Government taxation in early September 2018.
However, the US trade war with Asian nations has created concern for other countries in the region which have trade deficits with the United States, such as Thailand. Therefore, these countries will be more cautious in promoting tuna exports to the US, especially canned tuna products.
According to VASEP's analysis, this will be a good opportunity for Vietnamese companies to promote the export of products such as frozen loin, tuna fillets to the US market.
![]() | Three key markets of Vietnam export seafood VCN – EU, USA and Asia have been determined as three key export markets of Vietnam seafood ... |
On the Chinese side, due to the market share of Vietnam's export to this market being small, so the opportunity for Vietnam tuna business from this trade war is not high.
Related News
![Vietnam - France trade reached nearly US$2.5 billion in the first half of the year](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/23/14/croped/image0012024072010161720240723142729.png?240724091832)
Vietnam - France trade reached nearly US$2.5 billion in the first half of the year
09:18 | 24/07/2024 Import-Export
![Highest determination to remove IUU "yellow card".](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/19/16/17-449005821-438292439105506-1900049865909254375-n202407101621112024071211045320240719162813.jpg?rt=20240719162816?240720065016)
Highest determination to remove IUU "yellow card".
18:50 | 20/07/2024 Headlines
![Many seafood enterprises focus on developing the domestic market](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/19/16/1520240716102655-120240719161731.jpg?rt=20240719161734?240721094608)
Many seafood enterprises focus on developing the domestic market
09:46 | 21/07/2024 Import-Export
![If it is "permissive", OCOP products will not be effective for export](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/17/449801980-681389837513658-7949573038336496133-n2024071209413220240712152744-120240718170356.png?rt=20240718170359?240719021241)
If it is "permissive", OCOP products will not be effective for export
14:12 | 19/07/2024 Import-Export
Latest News
HCM City annual international travel expo in September
15:15 | 26/07/2024 Import-Export
![Đồng Nai](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/361692-4902364192590514-images2439387-z3245301932583-8e0fcec4c0298cbdd1a67efc377e87d420240726151202.9807900.jpg?240726031245)
Đồng Nai's key export item hopes for recovery
15:12 | 26/07/2024 Import-Export
![Rice exports to set record turnover of 5 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/1911gaoxuatkhaujpg-410520240726150836.9178600.jpg?240726030900)
Rice exports to set record turnover of 5 billion USD in 2024
15:08 | 26/07/2024 Import-Export
![4 export markets of tens of billions of dollars](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/image0012024072408363920240725154929.png?rt=20240725154931?240726081916)
4 export markets of tens of billions of dollars
08:19 | 26/07/2024 Import-Export
More News
![Difficult for phones to regain No. 1 position in exports](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/croped/image0012024072309572920240725155916.png?240726081749)
Difficult for phones to regain No. 1 position in exports
08:17 | 26/07/2024 Import-Export
![Indonesia licenses certificates of lobster cultivation for three Vietnamese companies](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/14/croped/lobster-409720240725140435.9377380.jpg?240725020459)
Indonesia licenses certificates of lobster cultivation for three Vietnamese companies
14:04 | 25/07/2024 Import-Export
![Vietnamese spend nearly 150 trillion VND on online shopping](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/14/croped/e-commerce-901820240725140330.8978560.jpg?240725020351)
Vietnamese spend nearly 150 trillion VND on online shopping
14:03 | 25/07/2024 Import-Export
![Four tens of billion USD export markets](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/22/croped/image00120240724083639-120240724220432.png?240725091715)
Four tens of billion USD export markets
09:17 | 25/07/2024 Import-Export
![Successful digital transformation solutions for wood industry enterprises](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/16/152024071210255720240718165847.jpg?rt=20240718165850?240725091456)
Successful digital transformation solutions for wood industry enterprises
09:14 | 25/07/2024 Import-Export
![Vietnamese lychee sold well at Costco stores in Australia](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/screenshot-2024-07-24-091517-547920240724140956.8680410.jpg?240724021028)
Vietnamese lychee sold well at Costco stores in Australia
14:10 | 24/07/2024 Import-Export
![Durian exports forecast to top 3 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/durian-979820240724140848.8204690.jpg?240724020914)
Durian exports forecast to top 3 billion USD in 2024
14:09 | 24/07/2024 Import-Export
![FTA - support to promote pangasius export](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/15/16/17-ca2024012216053120240715164806.jpg?rt=20240715164809?240724091910)
FTA - support to promote pangasius export
09:19 | 24/07/2024 Import-Export
![Technology increases competitiveness in the logistics race](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/19/16/16-day-chuyen-1-2690-44782024071210471920240719165055.jpg?rt=20240719165058?240723024027)
Technology increases competitiveness in the logistics race
14:40 | 23/07/2024 Import-Export
Your care
HCM City annual international travel expo in September
15:15 | 26/07/2024 Import-Export
![Đồng Nai](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/medium/361692-4902364192590514-images2439387-z3245301932583-8e0fcec4c0298cbdd1a67efc377e87d420240726151202.9807900.jpg?240726031245)
Đồng Nai's key export item hopes for recovery
15:12 | 26/07/2024 Import-Export
![Rice exports to set record turnover of 5 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/medium/1911gaoxuatkhaujpg-410520240726150836.9178600.jpg?240726030900)
Rice exports to set record turnover of 5 billion USD in 2024
15:08 | 26/07/2024 Import-Export
![4 export markets of tens of billions of dollars](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/medium/image0012024072408363920240725154929.png?rt=20240725154931?240726081916)
4 export markets of tens of billions of dollars
08:19 | 26/07/2024 Import-Export
![Difficult for phones to regain No. 1 position in exports](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/croped/medium/image0012024072309572920240725155916.png?240726081749)
Difficult for phones to regain No. 1 position in exports
08:17 | 26/07/2024 Import-Export