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US defers action on Vietnam over Section 301 investigation

20
Jan '21
Pic: Shutterstock
Pic: Shutterstock
The office of the US Trade Representative (USTR) recently issued findings in the Section 301 investigation of Vietnam’s acts, policies and practices related to currency valuation, concluding that those, including excessive foreign exchange market interventions and other related actions, taken in their totality, are unreasonable and burden or restrict US commerce.

USTR is not taking any specific actions in connection with the findings now but will continue to evaluate all available options, it said in a press release.

USTR consulted the department of the treasury on this. The findings were supported by a comprehensive report released by USTR on its website.

“Unfair acts, policies and practices that contribute to currency undervaluation harm US workers and businesses, and need to be addressed,” said USTR Robert E Lighthizer in a statement. “I hope that the United States and Vietnam can find a path for addressing our concerns.”

The Section 301 investigation was initiated in October last year.

Fibre2Fashion News Desk (DS)


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