US to limit imports from China, opening doors for Vietnam: US food association

When Donald Trump takes office, Vietnam will have greater opportunities to export to the U.S., said Bob Bauer, president of the US Association of Food Industries.

Bauer shared the information online at the workshop "New U.S. policy: Impacts on trade and investment," organized by the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC) in collaboration with the U.S.-Vietnam Business Council and the Vietnam Innovation Institute in HCMC on Wednesday.

Bauer highlighted the need for Vietnam to adapt to new policies and intensified international competition. He emphasized the importance of managing costs, ensuring food safety, and improving food quality for the U.S. market.

"Trump is expected to impose stricter limitations on imports from China, creating more opportunities for Vietnam. Vietnam has an advantage in exporting food to the U.S. and Vietnamese food is easier to export to the U.S. than from China," Bauer said.

He also noted that many U.S. businesses believe Vietnam imports raw materials from other countries for processing and export to the U.S. "Vietnam must strengthen efforts to verify and affirm the origin of its materials".

Vietnam-U.S. trade growth

Cao Phi Van, deputy director of ITPC, said that in 2024, two-way trade between Vietnam and the U.S. exceeded $132 billion. Vietnam’s exports to the U.S. were at nearly $119 billion, up 23.3% year-over-year, while imports from the U.S. reached $13 billion, a 7.3% increase.

These figures affirm the U.S. as Vietnam’s largest export market, with Vietnam becoming the eighth largest trading partner of the U.S., playing an increasingly vital role in the global supply chain.

Kevin Morgan, chairman of the U.S.-Vietnam Business Council, highlighted key Vietnamese exports to the U.S. such as footwear, wooden furniture, machinery, and optical equipment.

On the U.S. side, investments in Vietnam are growing, particularly in high-tech industries like microchips and semiconductors. Currently, over 1,400 U.S. projects in Vietnam have a total registered capital of nearly $12 billion. In HCMC alone, the U.S. ranks third among 110 countries and territories investing, with over $1.55 billion in investments, he added.

Huynh The Du, a lecturer at Indiana University from the U.S. and a member of the Vietnam Innovation Institute, highlighted the potential impacts of Trump's expected "America First" policies on Vietnam. He outlined opportunities for Vietnam, including increased exports to the U.S. amid the U.S.-China trade war, attracting foreign direct investment (FDI) as U.S. companies shift production out of China, and improving product quality to meet U.S. standards.

Do Ngoc Hung, trade counselor of Vietnam in the U.S., noted that Donald Trump’s second term, with anticipated adjustments to economic and foreign policies, is expected to have a profound impact on global trade, investment activities, and Vietnam-U.S. trade relations.

“To boost exports to the U.S. market, Vietnamese enterprises should collaborate with importers and distributors in the U.S. to explore flexible payment methods and share risks, particularly during the initial stages of market entry,” Hung advised.

He further emphasized the importance of agricultural and food exporters investing in cold storage facilities to establish large-scale distribution centers at major ports. Such infrastructure could serve a variety of product groups, helping to reduce costs and provide enterprises with a more proactive position in accessing the U.S. market.