Ministry welcomes USTR’s report not to impose tariff or sanction on Vietnam’s exports

(VOVWORLD) -The US Trade Representative (USTR), in its report released on Friday on findings in the Section 301 investigation of Vietnam’s acts, policies, and practices related to currency valuation, did not mention or recommend the imposition of tariff or any sanction measures on Vietnam’s exports, the Ministry of Industry and Trade said on Saturday.
Ministry welcomes USTR’s report not to impose tariff or sanction on Vietnam’s exports - ảnh 1

Illustrative image (

The Ministry of Industry and Trade, as Chair of the Vietnam section in the Vietnam-US Trade and Investment Framework Agreement (TIFA) Council and the agency authorized by the Prime Minister to work with the US in handling the case, welcomed the conclusion of the USTR’s report.
The Ministry told the media on Saturday that the efforts made at all levels, from Government leaders to officials of ministries, sectors, agencies, associations and businesses of both Vietnam and the US have paid off.

The USTR’s decision has a positive meaning to bilateral trade, Vietnam’s business and investment environment and the multi-faceted cooperation between the two countries, the Ministry said.

The Ministry of Industry and Trade's website said that immediately after the report’s release, Myron Brilliant, executive vice president of the US Chamber of Commerce, announced that the US business community welcomed the news that the Trump Administration will not impose tariffs on goods from Vietnam.

The Ministry of Industry and Trade stressed that Vietnam attaches importance to its economic and trade relations with the US, considering those relations an important pillar and a driver of the bilateral ties between Vietnam and the US.

Vietnam will continue with efforts to open up the market, intensify policy dialogue through TIFA Council mechanisms and seriously implement bilateral cooperation agreements so as to produce substantial outcomes and comprehensively address the concerns of the US and Vietnam, thereby maintaining stable trade ties towards a sustainable and harmonious trade balance that benefit both sides.

Related News