No Vietnam FTA Hurting US Ag Exports, Says USDA

“The US continues to lose market share in Vietnam’s market for high-value food and agriculture products, due in significant measure to a profound disadvantage in tariff rates,” the report states.

“The US is the sole major agricultural exporter to Vietnam that is not party to any of the many FTAs that Vietnam has negotiated. Aggregate export statistics tend obscure the losses in market share for two reasons.

First, Vietnam’s total agricultural imports continue to rise along with consumer demand, so US exports can remain stable even as market share falls. Second, losses in market share are concentrated in high-value products where the impact of tariffs is highest.”