Challenges from trade policies

According to statistics from the Department of Industry and Trade, there are 8 enterprises in the province exporting to the US market, including Seshin VN2 LLC, MSA YB LLC, Woodsland Tuyen Quang Joint Stock Company, Acacia Woodcraft Vietnam LLC, Huiling Wood Products Vietnam LLC, Hitarp Vietnam LLC, My Lam Tea Joint Stock Company and Greenhome Flooring LLC with export activities to the US market.

Main export items include exported garments, wooden furniture, interior and exterior furniture, tea, canvas rolls. The total export value of goods to the US market in 2024 will reach 57.1 million USD, expected to reach 78.5 million USD in 2025. Exporting enterprises are making careful and proactive preparations to maintain market share and maintain growth momentum in the context of many challenges. Enterprises have forecast several scenarios and proposed solutions to respond to US tariff policies.

Woodsland Tuyen Quang Joint Stock Company is an enterprise operating in the field of processing interior and exterior wooden furniture. The export markets are the US, Canada, Japan and European countries. Of which, the export market to the US accounts for about 25%. Mr. Le Quang Khanh, Director of Woodsland Tuyen Quang Joint Stock Company shared that the company has signed 7 export contracts with 7 US partners for wooden furniture with a value of 4.85 million USD. The US tariff situation is unpredictable, currently 2 US partners have requested to temporarily stop exporting. The US tax policy is still unpredictable, which also causes great difficulties for production and consumption plans.

The leaders of the Department of Industry and Trade grasp the production situation at export enterprises in the province.

Seshin VN2 Company Limited is a garment manufacturing enterprise, with up to 90% of its export turnover depending on the US market. In 2024, the company exported 6.7 million products, worth 32 million USD, and is expected to reach 9.6 million products, equivalent to 58.5 million USD in 2025. However, the new tax policy has caused 230,000 products to be temporarily suspended from import. Signed orders and products in production are also in stock, creating great pressure on warehouses, cash flow and human resource plans.

In the context of many unpredictable changes in tax policies, flexible adaptation and proactive implementation of response solutions are key factors for businesses to survive and overcome.

Proactive adaptation

Under pressure from stricter tax policies and increasing non-tariff barriers, Tuyen Quang's export activities are inevitably affected. However, difficulties are also a test for businesses and local authorities to re-evaluate their development strategies, proactively restructure their direction, and at the same time form an ecosystem to support businesses that are competitive enough in the international market.

Without waiting, many businesses have quickly changed direction. According to Mr. Le Quang Khanh, Director of Woodsland Tuyen Quang Joint Stock Company, in addition to adjusting delivery times to ease pressure, businesses have expanded access to markets such as Canada, Japan, and Europe, regions with a solid foundation of trade cooperation with Vietnam. Mr. Chen Chiea, Deputy General Director of Acacia Woodcraft Vietnam Company, said that the unit is focusing on stabilizing production according to signed contracts. At the same time, it is proactively seeking more consumption partners in markets that are less affected by US tariffs.

At Seshin VN2 LLC, despite suffering great losses from the postponement of orders, the enterprise quickly adapted by requesting to extend the investment progress of some technical items to focus resources on market expansion. Other enterprises such as Huiling Wood Products, Greenhome Flooring... are also actively exploiting opportunities in potential markets such as Japan, Australia, and the Middle East.

Comrade Loc Kim Lien, Deputy Director of the Department of Industry and Trade, affirmed that the Department has proactively worked with key export enterprises, assessed the specific level of impact and promptly synthesized and reported to competent authorities. With a companion role, the provincial Department of Industry and Trade is making efforts to support enterprises to maintain production, stabilize employment, improve competitiveness, and gradually help enterprises overcome the "big waves" of the market.

Although there are many difficulties, Tuyen Quang's export picture in the first quarter of 2025 still recorded positive signals. The export value of goods is estimated at 52 million USD, reaching 29.7% of the annual plan and increasing by 77.8% over the same period last year. This is a clear demonstration of the proactive spirit, courage and resilience of the business community of the province. In the second quarter, the province strives for the export value of goods to reach 43.8 million USD.

Market expansion orientation

In the context of the constantly fluctuating world market, especially under the impact of the new US tax policy, expanding and diversifying export markets is becoming a vital requirement for businesses. Tuyen Quang province clearly identifies the orientation of accompanying businesses, closely coordinating with specialized agencies of the Ministry of Industry and Trade to support access to new markets, gradually replacing traditional markets if trade barriers appear.

Along with that, the province is also actively taking advantage of Free Trade Agreements (FTAs) such as EVFTA, CPTPP, RCEP to boost exports to major markets such as the EU, Japan, Korea, China, ASEAN. Potential regions such as Russia, Eastern Europe, Northern Europe, India, the Middle East, Africa and Latin America are also being researched and promoted in a methodical and professional manner. At the same time, the province will also increase the organization of specialized seminars, disseminate international economic integration policies, and guide businesses to make the most of incentives from FTAs.

According to Comrade Loc Kim Lien, in the coming time, the Department of Industry and Trade will continue to update and provide market information, trade policies and international technical barriers in a timely manner, helping businesses proactively adjust their business strategies accordingly. Trade and investment promotion programs will be organized flexibly, combining direct and online programs, to introduce the province's potential and strengths, and connect trade more effectively.

Business support will also be enhanced, especially in issues related to trade defense, international trade disputes, anti-dumping, etc. The province will actively coordinate with trade counseling agencies to organize domestic and foreign promotions to accompany businesses in their journey to affirm their position on the global export map.