US businesses increase shrimp imports from Vietnam ahead of tax hike

Published 2024년 12월 2일

Tridge summary

Vietnam's shrimp exports to the US have experienced a positive growth of 17% in October 2024, amounting to over $80 million, and 10% in the first 10 months of the year, reaching $646 million. This is due to US businesses increasing imports ahead of potential tax hikes and a decrease in imports from other sources, leading to concerns about supply. The US is considering a 2.84% import tax on Vietnamese shrimp, which could pose a significant challenge. However, the market sentiment and economic situation are optimistic, with expectations of higher demand and improved prices. Additionally, Vietnam's shrimp exports to China, Hong Kong, Japan, South Korea, and the EU have also seen positive growth, with China's consumption promotion policies contributing to increased imports.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Shrimp exports to many major markets have grown positively, especially the US market has many positive signals as businesses in this country are increasing imports ahead of tax hike information. Good signals from the US market Vietnam's shrimp exports are showing many positive signs, especially in the US market. According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's shrimp exports to the US in October this year reached more than 80 million USD, up 17%. In the first 10 months of 2024, shrimp exports to this market earned 646 million USD, up 10% over the same period. According to the analysis of Ms. Kim Thu, a shrimp market expert at VASEP, shrimp imports to the US from the three main sources have all decreased, which has increased concerns among businesses in this country about a shortage of supply for the market. In addition, market sentiment and the economic situation are more optimistic, inventories are reduced, the oversupply ...

Source: WTOCenter