Vietnam reduces wheat, ag product tariffs

U.S. Wheat Associates reported the Government of Vietnam recently revised Most Favored Nation tariff rates on several imported agricultural products, including wheat. This decision reduces Vietnam's tariff on imported U.S. wheat (excluding durum) from 5% to 3% and will take effect July 10.

The reduced tariff is welcome news to U.S. wheat producers, reports U.S. Wheat Associates, in part because it helps make U.S. wheat more competitive in Vietnam's growing wheat market. There is, however, more work to be done because Vietnam pays no tariffs at all on most of their imports as a result of a seri...