Fishermen in Khanh Hoa Province catch tunas for exports
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), tuna exports slowed in July, with revenue falling 20 per cent year on year, bringing the seven-month total to nearly USD 542 million, down 3 per cent from the previous year.
The United States imposed new countervailing duties on specific countries as of August 7. The tax gap between Vietnamese products and those of rivals, such as Thailand, Indonesia, and Ecuador, has reduced the competitiveness of Vietnam’s tuna.
Geopolitical instability, logistics disruptions, and fluctuating demand in key markets such as Russia, Israel, and Chile have further strained exports.
Meanwhile, regulatory bottlenecks in fishing, processing and exporting remain unresolved, leaving tuna businesses under pressure.
The prime minister tasked the acting agriculture and environment minister with leading a review, in coordination with other ministries, to evaluate tuna exports in 2025 and to remove obstacles in line with relevant regulations.
Minister of Industry and Trade Nguyen Hong Dien has sent a letter to US Commerce Secretary Howard Lutnick urging a reconsideration of the National Oceanic and Atmospheric Administration’s refusal to recognise the equivalence of 12 Vietnamese fisheries under the Marine Mammal Protection Act.
Exporters warn that the immediate economic damage from the US decision is severe. VASEP estimates that the seafood industry could lose around USD 500 million annually from the US market.
Tuna, the largest single export, risks losing its entire foothold in the US, which accounted for USD 387 million of nearly USD 1 billion in total seafood exports in 2024. Other key products, such as crab, squid, grouper, mackerel, and swordfish, are also under threat.
The ruling not only jeopardises exporters but also threatens the livelihoods of hundreds of thousands of fishermen and processing workers. VASEP warned that the US decision places Vietnam at a double disadvantage, as competitors like Thailand, India, and Japan have secured equivalence status, making it easier for their seafood to enter the US market.
