Vietnam wants to lower tariffs for the American pork

Vietnam wants to lower tariffs for the American pork. It is expected that this step will increase import of the frozen pork from United States and will reduce trade deficiency of this meat in the market of Vietnam.

Vietnam is poised to lower US tariffs on US pork as the Asian country seeks to keep meat prices in check. Vietnam has been battling ASF since February 2019 and pork imports have grown steadily over the past two years. In the first six months of this year, meat imports reached $ 1.82 billion.

Easing import restrictions is seen as part of a strategy to improve relations between Washington and Hanoi, aimed at countering the growing influence of China. Tariffs are expected to decrease from 15% to 10%. The Ministry of Agriculture is expected to cut tariffs on other agricultural commodities such as wheat and corn.

From January to June, Vietnam imported 70 thousand tons of pork, mainly from Russia, the USA, the Netherlands and Poland. Last year, Vietnam imported more than 141,000 tonnes of fresh, chilled or frozen pork worth $ 334.44 million, up 382% in volume and 502.9% in value compared to 2019.

Vietnam has one of the largest swine herds in Southeast Asia and pork is widely consumed as a staple meat. Demand for imported pork has risen over the past two years as Vietnam’s pig sector battled multiple outbreaks of African swine fever.

SOURCE: meatinfo