He April 2 It was a key day globally, since the US president Donald Trump He celebrated his “day of liberation” in which he presented a Import generalized tariff scheme. LThe countries around the world began to negotiate With the United States (USA) not to suffer serious costs. In that framework, Vietnam seeks to reach a Commercial Agreement with the main global economic power that could affect Argentine exports.
War of tariffs and negotiation USA-Vietnam
A report of the Rosario Stock Exchange (BCR) detailed that Vietnam was one of the countries most punished by the tariff war Trump because the US has a significant commercial deficit with this nation, in which many American companies placed their production plants.
Therefore, Vietnam was one of the main interested parties in preventing tariffs that are in pause until the end of June and that, where appropriate, would be 46%.
After successive rounds of negotiations between members of both governments, the Vietnamese Ministry of Agriculture reported that companies in the country signed an understanding memorandes with American counterparts for Make the purchase of agricultural productsand that this process will continue to guarantee imports for the value of U $ 2,000 million.
The first batch signed with IowA companies contemplates purchases for US $ 800 million in five years, including businesses for Wheat, corn, DDG (ethanol production residue for animal feed) and soy flour.
It should be noted that the two main agro -industrial products that Vietnam imports from Argentina are the corn and the soy flourboth in terms of volume and value, and both goods stand out within negotiations with the United States.
The possible impact on Argentine exports
The important thing about the agreement is that, if the average of the last five years is considered, Argentina is the main origin of corn and soy flour imports that Vietnam performs every year. In both cases, it has a widely majority participation in that market: More than 50% in corn and more than 65% in soy flourin terms of value. On the other hand, US participation does not exceed 5% in any of the products.
Besides, Vietnam is the main market for corn and soy flour in Argentina. In value, it originated on average, during the last five years, 17% of the dollars generated by corn exports and 15% of those generated by international sales flour sales.
“Within this framework, the Trump administration’s commercial policy, based on its first consequences, begins to generate uncertainty on the currency generation board of the Argentine economy,” BCR economists mentioned.
“Vietnam’s interest in achieving an agreement, which also happens with other Asian countries, and the search for the United States to expand its agricultural exports as a support sample for its punished primary sector, which was key to Trump’s victory and has already begun to show its discontent, are important factors that could cause Argentina to lose market participation in the largest destinations of the two main export products of the country,” they concluded.
Source: Ambito
