Vietnamese wood product exporters are preparing for potential changes in U.S. trade policies, which could impact exports and supply chains, according to industry experts at a recent forum in Ho Chi Minh City.
Speaking at the Vietnam Furniture Industry Outlook 2025 event, Đỗ Ngọc Hưng, trade counselor and head of the Vietnam Trade Office in the U.S., noted that President Donald Trump recently directed the U.S. Department of Commerce (DOC) to investigate lumber imports under a 1962 trade law. This law was previously used to impose tariffs on steel and aluminum imports.
The DOC will assess domestic wood product demand, production capacity, and the role of foreign suppliers in the U.S. market. The U.S. remains Vietnam’s largest export market for wooden products, making any policy adjustments highly relevant to the industry.
“If tariffs increase, Vietnam’s wood industry could be affected,” Hưng said.
Industry Performance and Trade Relations
Ngô Sỹ Hoài, vice-chairman and general secretary of the Vietnam Timber and Forest Products Association, reported that Vietnam’s wood product exports reached $16.3 billion in 2024, a 20.3% increase from the previous year. Of this, exports to the U.S. accounted for $9.1 billion.
More than two-thirds of these exports consisted of furniture, while plywood, veneered panels, and laminated wood exports under HS code 44 were valued at around $1 billion.
Vietnam’s wood industry has set a 2025 growth target of 10-15%, aiming to reach $18-18.5 billion in total exports. However, global trade fluctuations present challenges to achieving this goal, Hoài noted.
Vietnam is also a major importer of U.S. timber, purchasing various types of wood such as oak, ash, beech, yellow maple, and walnut. These raw materials are processed into finished products for both domestic consumption and export markets, including the U.S.
Market Position and Strategic Adjustments
Vietnamese wood products hold a strong position in the U.S. market due to their quality and competitive pricing, according to industry analysts. Vietnamese manufacturers also comply with U.S. timber trade regulations and have established reliable supply chains.
“If Vietnamese wood products are subject to standard tariff rates, rather than discriminatory tariffs, their competitiveness will remain strong,” Hưng said. He encouraged businesses to monitor market developments and policy changes closely.
Some industry experts suggested that Vietnam could strengthen its trade position by increasing U.S. timber imports, which could help balance trade relations and reduce potential tariff risks.
Companies are also being advised to enhance competitiveness by adopting digital transformation, improving supply chain transparency, and ensuring compliance with trade regulations to mitigate risks associated with potential investigations.
Opportunities Amid Market Shifts
Ngô Chơn Trí, chief operating officer of Yes4All, a company specializing in home sporting goods and furniture, noted that shifts in U.S. tariff policies could create new opportunities for Vietnamese businesses. However, he emphasized the need for strong supply chain management and strategic planning to capitalize on these changes.
Võ Quan Hà, chairman of TAVICO Group, pointed out that China’s reduction in U.S. lumber imports, in response to U.S. tariffs, presents Vietnam with an opportunity to access higher-quality raw materials at competitive prices.
Forum Overview
The Vietnam Furniture Industry Outlook 2025, held alongside the Ho Chi Minh Export Furniture Fair (HawaExpo 2025) from March 5 to 7, focused on the theme of navigating economic and political shifts in the global wood industry. The event brought together industry leaders and policymakers to discuss strategies for sustaining growth amid evolving trade conditions.
Get top supply chain report news on The Supply Chain Report. For international trade insights and tools, visit ADAMftd.com.
#VietnamWoodIndustry #USTariffPolicy #TradeRegulations #ExportChallenges #GlobalSupplyChain #WoodExports #TradePolicy
