VN's pangasius seeks opportunities amid uncertainties

The tariff suspension has helped ease market concerns and opened a window for continued negotiations.

Fishfarmers in the southern province of An Giang. —VNA/VNS Photo Vũ Sinh

HÀ NỘI — The US tariff suspension offers short-term relief and a strategic opportunity for Vietnamese pangasius exporters, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).

The US government's decision to temporarily suspend countervailing duties for 90 days, has had an immediate positive effect on export markets, including Việt Nam’s seafood sector and pangasius exports.

Việt Nam is currently the world’s largest pangasius exporter and the leading fish supplier to the US. The tariff suspension has helped ease market concerns and opened a window for continued negotiations, according to the association.

“These 90 days can be considered a window for both sides to push forward discussions, ideally toward an extension or even the complete removal of countervailing duties, bringing them down to zero,” a VASEP representative said.

Shipments previously stalled due to the anticipated tariff deadline of 9 April, are now being expedited to avoid the risk of prolonged inventory. At the same time, the suspension presents an opportunity for Vietnamese firms to restructure their strategies, explore new markets and partners, and build greater resilience in case of a prolonged trade dispute.

Risks remain

Despite the temporary suspension, VASEP cautions that the US market remains risky, as the tariffs have not been officially revoked. This means there is no guarantee that Việt Nam will benefit from reduced or zero tariffs over the long term. Given Việt Nam’s high level of trade openness and reliance on global markets, any tariff fluctuation from the US, a major trading partner, can trigger a domino effect, negatively impacting seafood and other export sectors.

VASEP recommends that pangasius exporters accelerate shipments already in transit or awaiting delivery to the US during the 90-day window to minimise the risk of facing higher tariffs. In addition, businesses are urged to proactively develop alternative market strategies, seeking growth opportunities in regions such as the Southeast Asia or the Middle East, to reduce dependency on the US market.

On a more optimistic note, industry experts said that Việt Nam is a comprehensive strategic partner of the US, and American consumers have also grown increasingly familiar with the taste and texture of the Vietnamese fish.

Meanwhile, China, currently the world’s largest supplier of tilapia, another white-fish species comparable to pangasius, is facing record-high tariffs when exporting to the US. This situation could present a significant opening for Vietnamese pangasius, especially if Chinese tilapia becomes less competitive due to higher pricing and if Việt Nam and the US reach a more favourable trade agreement.