Vietnam to Suspend Wheat Import Tariffs

Vietnam millers and consumers can expect a reduction in the cost of wheat, as the Biden Administration and the United States Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) have toggled with Vietnam’s Ministry of Finance to reduce or eliminate import tariffs, reports AgWeb.

The reduction in import tariffs on several U.S. commodities, including wheat, follows Vice President Kamala Harris’ Indo-Pacific trip to Vietnam.

Negotiations stem from a bilateral package in which Vietnam seeks to reduce COVID-19-related inflation in both feed and food costs.