Following a recent visit to Vietnam by Vice President Kamala Harris, the U.S. announced that Vietnam has agreed to eliminate or reduce most-favored-nation import tariffs on corn, wheat, and pork products, though no further details were provided. A White House fact sheet said that Vietnam is the U.S.’ seventh-largest agricultural export market and that the forthcoming duty reductions will provide greater access to that market for U.S. farmers and pork producers.
The U.S. said it is also seeking to boost bilateral trade by providing up to $2 million to support Vietnam’s effort to transition from an economy dominated by labor-intensive, low-skilled industry to a workforce better equipped to participate in the global digital economy.
Copyright © 2023 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.