Vietnam seeks new trade deals, diversifies exports amid US tariffs

Vietnam is ramping up efforts to diversify export markets and secure new free trade agreements in response to looming U.S. tariffs and growing global protectionism. The government is prioritizing negotiations with countries in regions such as South Asia, Latin America, and Eastern Europe, while also maximizing existing trade agreements to support its export-driven economy. Facing potential U.S. tariffs of up to 46%, Vietnamese authorities are preparing various agricultural growth scenarios and recommending strategies such as intensified dialogue with the U.S., targeted support for affected sectors, and improved product traceability. At the same time, Vietnam is seeking to capitalize on trade tensions between the U.S. and China by boosting exports of products like tilapia to fill gaps in the American market. Efforts to diversify include expanding into Southeast Asia, the EU, Japan, and the Middle East, as these regions have shown increased demand for Vietnamese agricultural goods, supported by preferential trade agreements and rising product quality. The government is also encouraging businesses to adapt export strategies and tap into emerging markets to maintain growth amid shifting global trade dynamics.