Pork tariff relief sorely needed in Vietnam
Vietnam market still holds significant opportunities for imported pork.
Source: U.S. Meat Export Federation (USMEF)
via National Hog Farmer - Sep 08, 2021
The Biden administration recently issued a fact sheet announcing advances in U.S.-Vietnam trade relations. One of the items included in the announcement was Vietnamís "positive consideration" of a U.S. proposal to eliminate or reduce Most Favored Nation (MFN) import duties on pork, corn and wheat products.
The U.S. Meat Export Federation (USMEF) is awaiting further details on the status of this proposal, but the announcement underscores the fact that tariff relief for U.S. pork is much-needed in the price-sensitive Vietnamese market.
Even before African swine fever (ASF) was confirmed in Vietnam in early 2019, the U.S. pork industry saw strong growth potential in this emerging market. Though largely self-sufficient in pork production, Vietnam's growing middle class and rapidly growing foodservice and retail sectors presented intriguing opportunities for U.S. pork. The U.S. pork industry was poised to benefit from significant market access gains in Vietnam through the Trans-Pacific Partnership (TPP) before the United States withdrew from TPP in 2017.
"Although Japan was the TPP member that drew most of the media attention when discussing access for U.S. red meat, we also saw improved access to Vietnam as a major win," said USMEF President and CEO Dan Halstrom...
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