Vietnam's cashew nut exports to the United States are decreasing due to the impact of tax policies. In April 2025, cashew nut exports to the US market reached nearly 14 thousand tons, worth 92 million USD, down 25% in volume and 4.2% in value compared to April 2024. In the first 4 months of 2025, Vietnam exported 42 thousand tons of cashew nuts to the US, worth 289 million USD, down 26% in volume and 4.8% in value compared to the same period in 2024. Mr. Vu Thai Son, Chairman of Binh Phuoc Cashew Association and General Director of Long Son Joint Stock Company, said that the decrease in cashew nut exports to the United States was due to the impact of the 10% import tax that the United States imposed on imported goods from all markets. Compared to 2024, the price of cashew nuts on the world market is currently 25-30% higher, plus 10% import tax, the price of cashew nuts in the US market is 35-40% higher. Therefore, many consumers in the US have reduced their use of cashew nuts or switched to other nuts such as almonds, walnuts, etc. While cashew nut exports to the United States decreased significantly, exports to China increased quite strongly. In April, China became Vietnam's largest cashew nut export market, with nearly 24 thousand tons, worth 149 million USD, a sharp increase of 127% in volume and 130% in value compared to March 2025; compared to April 2024, it increased by 74% in volume and 113% in value. In the first 4 months of 2025, cashew nut exports to China reached 41 thousand tons, worth 259 million USD, up 11.2% in volume and 29.1% in value over the same period in 2024. In the first 4 months of the year, cashew nut exports to China were almost equal in both volume and value to exports to the United States. According to Mr. Vu Thai Son, the demand for cashew nuts in China is increasing, leading to Chinese traders buying more Vietnamese cashew nuts in recent months. Notably, the price of cashew nuts exported to China is higher than the price of cashew nuts exported to the United States, because Chinese customers have higher requirements for the quality of cashew nuts. Some international market analysis companies say that China's population growth has contributed greatly to the increase in demand for nuts, including cashews. Chinese people, especially the younger generation, spend most of their day traveling or working, so the demand for snacks is very high. Although the Chinese market has many different snacks, the demand for cashews and cashew-related snacks is growing rapidly because they are considered healthy snacks. In addition to China, cashew nut exports to many other markets are also growing well. According to the Import-Export Department, Ministry of Industry and Trade, in the first 4 months of 2025, Vietnam's cashew nut exports recorded positive growth to a number of markets such as the Netherlands, UAE, Japan, Philippines, India, etc. There are markets that are not yet among the 10 largest markets for Vietnamese cashew nuts, but are also growing very well, typically the Turkish market. According to the International Trade Center (ITC), in the first 3 months of 2025, Turkey imported 6.18 thousand tons of cashew nuts from Vietnam, worth 47 million USD, up 80% in volume and 154% in value compared to the same period in 2024. Vietnamese cashew nuts currently account for 83% of Turkey's total cashew nut imports, higher than the 67.7% in the same period in 2024. The Import-Export Department believes that in the coming time, the prospect of cashew nut imports from Türkiye is quite positive. This market is becoming an attractive destination for cashew nut exporting countries, especially in the context of increasing consumer demand in the Middle East and Europe. This is an opportunity for the Vietnamese cashew industry to maintain and expand its market share in the Turkish market. Increased demand in many markets other than the United States will help the Vietnamese cashew industry reduce pressure when the United States officially applies reciprocal taxes. According to Mr. Bach Khanh Nhut, Permanent Vice President of the Vietnam Cashew Association (VINACAS), although it is not yet known how much the official tax rate that the United States will impose on Vietnamese cashew nuts will be, it is certain that after this tax is imposed, exporting Vietnamese cashew nuts to the United States will become more difficult. Mr. Nhut shared that there are many potential markets for the Vietnamese cashew industry to change direction when exports to the United States are facing difficulties due to reciprocal taxes. First of all, there are large and stable markets such as China, the EU, Australia, etc. In particular, the two markets that have increased sharply in cashew nut imports over the past year are the Middle East and the Netherlands. The Vietnamese cashew industry can completely boost cashew nut exports to these markets.