US fruit exporters benefit from attempts to negotiate with Trump administration
Vietnam has lowered its tariffs on several US fruit and nut products as it works to convince the Trump administration to halt a new 46 per cent tariff on Vietnamese imports.
On 31 March, the government of Vietnam issued a decree reducing most-favoured-nation (MFN) tariffs on a range of items. This included reducing the tariffs on apples from 8 per cent to 5 per cent, cherries from 10 per cent to 5 per cent, on shelled almonds from 10 per cent to 5 per cent, and on inshell pistachios from 15 per cent to 5 per cent.
The MFN tariffs apply to the US and a Reuters report, said the changes were a proactive effort from the Vietnamese government to avoid or reduce impending tariffs from the Trump administration. However, Trump announced a 46 per cent levy on 2 April.
On 7 April, Vietnam’s Prime Minister Pham Minh Chinh issued a statement which said Vietnam would remove all import tariffs on US imports and commit to buying more US goods. He also asked the US to delay its new tariffs for 45 days.
“[Vietnam wants to] negotiate with the US side for balanced and sustainable trade, in line with the interests of the two sides,” the statement said.
On the same day, White House trade advisor Peter Navarro told CNBC the offer by Vietnam to eliminate tariffs on US imports would not stop the Trump administration’s planned tariffs.
“Let’s take Vietnam. When they come to us and say ‘we’ll go to zero tariffs,’ that means nothing to us because it’s the nontariff cheating that matters,” Navarro said.
At 12:00am EST on 9 April, the Trump administration’s tariffs were implemented, including the 46 per cent tariff on Vietnam.
According to a report from Reuters, Vietnam will continue to negotiate, with the country’s deputy prime minister Ho Duc Phoc set to talk with US treasury secretary Scott Bessent on 9 April.
