A group of US house lawmakers is asking the Biden administration to eliminate Vietnam's tariffs on American pork and address other restrictions regarding currency and trade practices with the country, reports Bloomberg.
Vietnam has seen its piggeries devastated by African swine flu, increasing the demand for imported pork. The country has culled more than two million animals and imported swine in the past two years because of the fever.
Vietnam temporarily cut its US frozen pork import tariffs to 10 per cent from 15 per cent in 2020, resulting in a doubling of American exports to the country during the second half of 2020.
Meanwhile, the US representatives declared significant tariff and non-tariff barriers remain preventing American pork from competing even as Hanoi seeks reliable sources of foreign pork.
'Consequently, our competitors in the EU, as well as the Comprehensive and Progressive Trans-Pacific Partnership participants, are well-positioned to take advantage of this tremendous opportunity given their free trade agreements with Vietnam,' said the representatives.
Vietnam's agricultural ministry worker Nguyen Do Anh Tuan declared how the country reduced import tariffs for American pork last year.
'We reduced import tariffs for American pork last year and Vietnam is actively implementing steps within trade and investment agreements between the two countries to boost bilateral trade. We will continue to work with our US counterparts on measures to help balance our trade ties with the US,' said Mr Tuan.
SeaNews Turkey
Vietnam has seen its piggeries devastated by African swine flu, increasing the demand for imported pork. The country has culled more than two million animals and imported swine in the past two years because of the fever.
Vietnam temporarily cut its US frozen pork import tariffs to 10 per cent from 15 per cent in 2020, resulting in a doubling of American exports to the country during the second half of 2020.
Meanwhile, the US representatives declared significant tariff and non-tariff barriers remain preventing American pork from competing even as Hanoi seeks reliable sources of foreign pork.
'Consequently, our competitors in the EU, as well as the Comprehensive and Progressive Trans-Pacific Partnership participants, are well-positioned to take advantage of this tremendous opportunity given their free trade agreements with Vietnam,' said the representatives.
Vietnam's agricultural ministry worker Nguyen Do Anh Tuan declared how the country reduced import tariffs for American pork last year.
'We reduced import tariffs for American pork last year and Vietnam is actively implementing steps within trade and investment agreements between the two countries to boost bilateral trade. We will continue to work with our US counterparts on measures to help balance our trade ties with the US,' said Mr Tuan.
SeaNews Turkey