US, Vietnam work to resolve trade issues through consultation and cooperation

(VOVWORLD) - The Inside US Trade’s World Trade Online has published an article entitled “U.S., Vietnam working to avoid imposition of Section 301 tariffs”. 

The article reported that the U.S. and Vietnam are working to resolve trade issues to pre-empt the imposition of Section 301 tariffs. It said a source familiar with the Office of the U.S. Trade Representative’s twin investigations into Vietnamese trade practices told Inside U.S. Trade on Thursday. USTR in October launched Section 301 investigations into Vietnam’s currency valuation and timber practices. After holding hearings for each last week, USTR gave interested parties the opportunity to submit post-hearing comments through Thursday. The Inside US Trade learned that the US Trade Representative Office has less than 2 weeks until the new president’s inauguration ceremony on January 20 to complete the investigation process, followed by a proposal submitted to the Presidential Office and an open hearing on the proposal.

In related news, more than 150 companies and 50 associations have sent a joint letter to President Trump, asking for not imposing Section 301 tariffs on Vietnamese goods, saying that it may hamper the US global competitiveness and US businesses and consumers alike in the context of the pandemic. They said Vietnam remained a large US export market and an important supplier of raw materials for US manufacturers.