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Consumer Sector: 20% US Tariff Is ’Manageable’

Sector Insights

Consumer Sector: 20% US Tariff Is ’Manageable’

The US will impose a 20% tariff on Vietnamese exports, with fishery products - being 100% of domestic origin - likely falling into this category. The 20% tariff is in line with the fishery exporters’ expectations and is manageable with only a moderate impact on export volume or gross profit margins. A clearly defined tax rate helped to clear uncertainty and support the normal resumption of trade activities. Pangasius exporters VHC and ANV appear to have a stronger competitive edge in the US market. We are placing our target prices and ratings for all three fishery players - VHC, ANV, and FMC - under review.

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