Starting July 24, seafood imported into the US incurred an additional Section 301 tariff at a rate of 12.5%. Due to contract lag times and shipping durations, the full impact was not reflected in July turnover figures, but will manifest more clearly starting in August and Q4/2026.

Vietnam's seafood exports in July 2026 reached nearly 1.02 billion USD, up 4.8% compared to the same period in 2025. The results achieved in July brought cumulative 7-month seafood export turnover to nearly 6.78 billion USD, an 11.5% increase, according to data from the Vietnam Association of Seafood Exporters and Producers (VASEP).

Surpassing the 1 billion USD mark in July continues to consolidate full-year seafood export prospects to potentially exceed 12 billion USD. However, according to VASEP, July data also signaled clearly that the most favorable growth phase may have passed. Overall growth stood at merely 4.8%; pangasius dropped 6.1%; tuna showed virtually no growth; while the EU, South Korea, and the Middle East all experienced double-digit declines

Starting July 24, Vietnamese seafood items entering the US began bearing an additional Section 301 tariff rate of 12.5%. Due to contract lag times and shipping durations, the full impact was not fully reflected in July turnover, but will show more clearly from August and Q4.

VASEP evaluated that the full-year export scenario exceeding 12 billion USD remains feasible following the results attained in the first 7 months. Nevertheless, growth in remaining months may stand significantly lower than current levels.

The most directly impacting factor is the US Section 301 tariff. The 12.5% rate for Vietnam generates three specific consequences:

First, new contracts with the US will be renegotiated; importers may demand FOB price reductions, tax cost-sharing, or enter short-term contracts only.

Second, Vietnam faces disadvantages relative to Ecuador, India, and Indonesia, which bear a 10% rate. This gap is particularly crucial for vannamei shrimp, canned tuna, and standard frozen products.

Third, the new duty is compounded with MFN tariffs, anti-dumping, and countervailing duties where applicable. Consequently, purchasing decisions will increasingly be made on an enterprise-by-enterprise and product-code basis, rather than generalized country-level comparisons.

On a positive note, Vietnam has issued regulations banning the importation of goods produced using forced labor, taking effect from early September 2026. This provides a foundation for Vietnam to engage in further discussions with the US, though in the short term, no official information indicates the 12.5% tariff rate will be adjusted immediately. 

Source: Bao Tai chinh - Dau tu