Opportunity for seafood exporters to restructure markets

The United States' temporary 90-day suspension of new reciprocal tariffs has created an opportunity for Vietnam's seafood exporters to restructure their market strategies, as the future of exports to the US remains uncertain, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In the first quarter of 2025, Vietnam's seafood export turnover reached $2.45 billion, marking a 26% increase compared to the same period last year. Of this, exports to the US exceeded $500 million.

With annual seafood export value to the US estimated at around $2 billion, accounting for one-fifth of Vietnam's total seafood export value, the US is the largest market  for Vietnamese seafood export.

The US is the top import market for Vietnamese shrimp and tuna and ranks as the second largest for pangasius (tra fish).

VASEP reported that over 400 Vietnamese enterprises are currently exporting or preparing to export seafood to the US market, including large, high-value orders. At present, approximately 37,500 tons of seafood products are in transit to the US, and about 31,500 tons are slated for export in the latter half of April.

"The 90-day suspension of the new tariffs provides an opportunity to expedite the export of orders, avoiding the risk of prolonged inventory build-up. The seafood industry is hopeful about the outcomes of negotiations between Vietnam and the US, aiming for a reduction of reciprocal tariff rates or their complete elimination, bringing them down to 0%. This can be considered a 'golden time' for the seafood industry to restructure its market strategy," remarked Ms. Le Hang, a market analyst at VASEP.

"This period also presents a chance for businesses to adjust their strategies, explore alternative markets and partners, and build a resilient system capable of weathering future challenges," she added.