COUNTRY'S NEWS

Vietnam Reduces Import Tariffs on Various Goods Starting March 31, 2025

Posted on by content02.vinahugo
08
Oct

Effective March 31, 2025, Vietnam has officially implemented a new preferential import tariff schedule under Decree No. 73/2025/NĐ-CP, reducing duties on several imported items such as automobiles, wood products, ethanol, frozen chicken legs, pistachios, almonds, fresh apples, cherries, raisins, and more.

Key Tariff Reductions

Under Decree No. 73/2025/NĐ-CP, issued on March 31, 2025, the Government amended and supplemented the Preferential Import Tariff Schedule (originally issued under Decree No. 26/2023/NĐ-CP dated May 31, 2023).

The key adjustments include:

1. Automobiles

  • HS code 8703.23.63 and 8703.23.57: Import duty reduced from 64% to 50%.

  • HS code 8703.24.51: Import duty reduced from 45% to 32%.

2. Ethanol

  • Import duty reduced from 10% to 5%.

3. Frozen Chicken Legs

  • Duty reduced from 20% to 15%.

4. Agricultural and Food Products

  • Pistachios (in shell): from 15% → 5%.

  • Almonds: from 10% → 5%.

  • Fresh apples: from 8% → 5%.

  • Cherries: from 10% → 5%.

  • Raisins: from 12% → 5%.

5. Wood and Furniture Products

  • Group 44.21 – Wooden products (e.g., hangers, coffins, spools, wooden reels, etc.): reduced to 0%.

  • Groups 94.01 and 94.03 – Wooden chairs, furniture, and parts thereof: reduced to 0%.

This marks a complete elimination of import duties for several wooden furniture categories to encourage domestic production and support sustainable material sourcing.

6. Energy Products

  • Liquefied Natural Gas (LNG): from 5% → 2%.

  • Ethane (HS code 2711.19.00): newly added to Chapter 98, with a 0% import duty.

7. Agricultural Inputs

  • Corn (maize): from 2% → 0%.

  • Soybean meal: from 1–2% → 0%.

Purpose and Impact

The tariff cuts under Decree No. 73/2025/NĐ-CP aim to:

  • Support the recovery of domestic production and processing industries;

  • Stabilize input costs for food, feed, and manufacturing sectors;

  • Enhance supply chain competitiveness;

  • Harmonize Vietnam’s trade policy with international commitments and WTO tariff reduction schedules.

The decree took effect immediately upon signing (March 31, 2025).