Publication Inside US Trade outlines ongoing work between US and Viet Nam on trade issues

Update: 17:19 | 11/01/2021
Publication Inside US Trade of the United States has released an article entitled “US, Viet Nam working to avoid the imposition of Section 301 tariffs”, citing a source that is familiar with the Office of the US Trade Representative (USTR)’s twin investigations into Vietnamese trading practices.
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Newspaper outlines ongoing work between US and Viet Nam on trade issues
Vietnamese Minister of Industry and Trade Tran Tuan Anh hold phone talks with USTR Robert Lighthizer.

This comes after the USTR launched Section 301 investigations in October into the country’s currency valuation and timber practices. After holding hearings for these issues each last week, the USTR provided all interested parties the opportunity to submit post-hearing comments.

Furthermore, Inside US Trade has learned that the US Trade Representative Office has under two weeks until the inauguration ceremony for the new President on January 20 to fully complete the investigation process, followed by a proposal submitted to the Presidential Office, and an open hearing on the plan.

The article also noted phone talks held between the Vietnamese Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh and US Secretary of State Mike Pompeo. This is along with phone talks between Vietnamese Minister of Industry and Trade Tran Tuan Anh and USTR Robert Lighthizer.

Minister Anh explained that the investigation could lead to many unwanted effects that could not only harm bilateral relations, strategic trust, and efforts to boost co-operation, but also adversely impact thousands of enterprises and millions of workers and consumers, both in the nation and in the US.

USTR Lighthizer stated that the USTR Office is still in the process of its investigation and is therefore considering all opinions, although it has yet to discuss any conclusions with regard to the country.

In related news, over 150 companies and 50 associations have sent a joint letter to President Donald Trump asking him not to impose Section 301 tariffs on Vietnamese goods. They indicate that it may hamper US global competitiveness, businesses, and consumers in the context of the novel coronavirus (COVID-19) pandemic.

They outline that the nation remains a large export market for the US, along with an important supplier of raw materials for US manufacturers.

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(Source: VOV)