Vietnam mulls import tax cut on US agricultural products
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(VOVWORLD) - The Ministry of Finance has submitted to the government proposed changes to the decree on preferential import and export tariffs following a US request that Vietnam cuts import taxes on a number of its agricultural products next year, and eventually reduce them to zero percent.
 Chicken imported from the US sold at a supermarket in Hanoi. (Photo acquired by VnExpress) |
According to the ministry, the US has asked for reducing the import taxes on chicken, chicken products, almond, apple, fresh grape, wheat, pork, and potato. They are now at around 20 percent. The ministry is considering the demand since it could help reduce Vietnam’s trade surplus with the US. In the first 10 months this year, the US was Vietnam’s largest export market with total exports value of nearly 50 billion USD, according to Vietnam's General Statistics Office.
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