Trump Announces Trade Deal with Vietnam
In exchange, Trump stated that Vietnam would do something it has never done before—grant the United States FULL ACCESS to their Trade Market. It remains unclear when the new trade agreement will officially take effect.
Vietnamese Shrimp, Pangasius, and Tuna Are Crucial to the U.S.
Since April 2, Vietnam, like most other countries, has been subject to a general 10% tariff in the U.S. However, country-specific rates for Vietnam have been higher than for many others. India (26%), Indonesia (32%), and Thailand (36%)—all major seafood suppliers to the U.S.—were also facing the prospect of even higher tariffs starting July 9.
The announcement came just one day after Trump reportedly said he was considering not extending the July 9 deadline for country-specific tariff increases and potentially raising them further.
Vietnam, whose exports to the U.S. were estimated to account for 30% of its GDP last year, is especially vulnerable to Trump's tariff policies. However, the U.S. also views Vietnam as a critical seafood supplier.
Vietnam was the fifth most valuable seafood exporter to the U.S. in 2024, shipping 366,898 tons worth USD 1.8 billion—an increase of 15% in volume and 9% in value compared to 2023.
It was the fourth-largest shrimp supplier to the U.S. in 2024, exporting 69,321 tons worth USD 722 million, up from 61,520 tons worth USD 665 million in 2023.
Vietnam has outpaced its 2024 performance so far in 2025, exporting 16,222 tons of shrimp worth USD 169 million to the U.S. in the first four months—up 6% in volume and 12% in value year-on-year.
Vietnam was also the largest supplier of pangasius (tra fish) to the U.S., exporting 123,000 tons worth USD 394 million in 2024, up from 91,523 tons worth USD 322 million the previous year.
Additionally, Vietnam was a major tuna supplier, exporting 46,940 tons worth USD 338 million in 2024, an increase from 38,302 tons worth USD 298 million in 2023.
On a smaller scale, Vietnam is also an emerging source of red crab for the U.S., exporting 2,971 tons worth USD 63 million in 2024, compared to 2,803 tons worth USD 57 million in 2023.
Source: VASEP
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