On November 15, 2021, the government of Vietnam issued Decree 101/2021/ND-CP, revising its most-favored nation (MFN) tariff rates for corn, wheat and frozen pork. The decree eliminates the MFN tariff on all classes of wheat, lowers the duty on corn from five percent to two percent, and lowers the duty on frozen pork from 15 percent to 10 percent.
The tariff reductions for wheat and corn will enter into force when the decree takes effect on December 30, 2021, while the reduction for frozen pork will enter into force on July 1, 2022.
The decree follows the commitment made by the Vietnamese government when Vice President Kamala Harris visited Hanoi in August 2021. The tariff reductions will give U.S. corn, wheat and pork producers greater access to the Vietnamese market, in line with competitors from countries that have free trade agreements with Vietnam. U.S. exports of corn, wheat and pork to Vietnam were valued at $228 million in 2020.
Additional information about the tariff reductions will be available in an upcoming Global Agricultural Information Network (GAIN) report from the FAS Office of Agricultural Affairs in Hanoi.
