Hanoi, April 21, 2025 – The Europe Today: A wide range of U.S. agricultural products will soon become more affordable in the Vietnamese market following a substantial reduction in import tariffs, effective from March 31, 2025.
The move is part of Decree No. 73/2025/NĐ-CP issued by the Government, which introduces lower import duties on a variety of essential goods, including agricultural commodities, automobiles, and raw materials critical to Việt Nam’s industrial sectors.
According to the Ministry of Finance, the tariff reductions align with Việt Nam’s ongoing strategy to promote trade liberalisation with key partners—especially the United States—and to support domestic consumption by increasing access to imported goods at more competitive prices.
Specifically, the import tax on frozen chicken thighs has been reduced from 20 per cent to 15 per cent. Meanwhile, unshelled pistachios, almonds, fresh apples, cherries, and raisins will see tariffs lowered from 8–12 per cent to 5 per cent. Import duties on corn for animal feed and soybean meal have been entirely eliminated, down from 1–2 per cent to zero.
The tariff changes are expected to ease input costs for sectors such as livestock farming, which relies heavily on imported corn and soybean by-products. In 2024 alone, Việt Nam imported nearly $3.04 billion worth of corn—an increase of 6.1 per cent from the previous year.
In addition to agricultural items, the decree also affects non-agricultural imports. Notable adjustments include a cut in tariffs for cars with HS codes 8703.23.63 and 8703.23.57 from 64 per cent to 50 per cent, and for those under HS code 8703.24.51 from 45 per cent to 32 per cent. Ethanol and liquefied natural gas (LNG) will now be subject to reduced tariffs of 5 per cent (down from 10 per cent) and 2 per cent (down from 5 per cent), respectively. Wood products under groups 44.21, 94.01, and 94.03 will now enjoy duty-free access, down from prior rates of 20–25 per cent.
The United States remains one of Vietnam’s leading agricultural suppliers. In 2024, U.S. exports of agricultural goods to Vietnam reached $3.4 billion—led by cotton, soybeans, and tree nuts—comprising over one-quarter of all U.S. exports to the country. U.S. fruit exports alone reached nearly $550 million, marking a 64 per cent year-on-year increase.
Economist Đinh Trọng Thịnh stated that the new policy would stimulate import turnover and offer consumers broader access to essential goods at better prices. He noted that the livestock sector, in particular, stands to benefit from the elimination of tariffs on corn imports.
Meanwhile, U.S. fruit exporters have expressed optimism about the reduced barriers, citing Vietnam’s growing demand for high-quality fresh produce such as apples, grapes, cherries, and oranges. Ongoing negotiations between the two nations aim to expand market access to additional American fruits, including tangerines, lemons, and plums.
Analysts view the tariff cuts as a strategic step to address trade imbalances and further strengthen the bilateral trade relationship between Vietnam and the United States.
