AsemconnectVietnam - Vietnam's seafood exports in February of 2026 faced significant pressure from new US tariff policies, while the Lunar New Year holiday shortened production and delivery times, making growth prospects less favorable than the previous month.

According to the Vietnam Association of Seafood Processing and Export (VASEP), entering February of 2026, the outlook for Vietnam's seafood exports was projected to be significantly different from January – a period when the industry achieved a growth rate of 30.6%, bringing in over $1 billion, much higher than the $774 million recorded in the same period of 2025. This increase is mainly due to seasonal factors, as the Lunar New Year in 2025 fell in January, reducing the number of working days, while this year the Lunar New Year has shifted to February. The import demand for the festive season also boosted export value, evidenced by a 47% increase in ASEAN, 34% in China and Hong Kong, and 24-29% in the EU, Japan, and South Korea.
By product category, pangasius saw the strongest growth at 59.2%, followed by squid and octopus at 40.4%, other marine fish at 36.9%, and shrimp at 22.1%. However, this positive trend was uneven, with the US market emerging as a hot spot to watch. In January, the exports to the US reached $128.4 million, a 20.2% increase, but mainly due to a low base. Many businesses reported a slowdown in orders due to an unstable policy environment.
The tuna industry most clearly demonstrated this trend: total exports increased by 13.4% in January, but exports to the US market alone decreased by 5.7%. If calculated using the same number of working days, the decrease was even deeper, reflecting the cautious sentiment of importers.
The biggest impact on exports in February came from changes in US tariffs. Following the Supreme Court ruling, the United States canceled the previous global tariffs and imposed a 15% tariff under the new legal basis. From 0:01 AM on February 24th (EST), the U.S. Customs and Border Protection agency ceased collecting tariffs under the IEEPA. The 15% rate is lower than the 20% counter-tariff applied from August 2025, but it narrows the tariff gap between Vietnam and competitors like China and India, increasing competition in this market.
In addition to tariffs, the U.S. is also increasing technical barriers with a ban on importing seafood from industries not recognized as equivalent under the MMPA Act from January 1st, 2026. Many shipments may require additional Certificates of Analysis (COA), increasing costs and customs clearance time.
In this context, February exports were projected to increase only slightly or at a low single-digit rate, depending on delivery progress and the response of the U.S. market. The POR19 results announced on February 17th could also further impact the sentiment regarding order signings. Although consumer demand in the US shows positive signs, such as during winter or Lent, this market remains the biggest variable affecting Vietnam's seafood industry's growth targets in the coming period.
CK
Source: VITIC/thuehaiquan.tapchikinhtetaichinh.vn