In March 2025, Vietnam's pangasius exports increased by 16% to $182 million, contributing to a first-quarter total of over $465 million, marking a 13% rise from the previous year. China and the US are the largest markets, with China leading in consumption, while the US remains the second-largest despite a slight decrease in exports. The EU, especially the Netherlands, and Brazil also experienced significant growth, with Brazil's imports surging by 73%. However, a new US tariff could increase costs by 50%, impacting competitiveness. Vietnam is seeking to negotiate a tax agreement with the US and enhance the ASEAN-China Free Trade Agreement to boost trade opportunities.