USTR Releases Findings of Investigation into Vietnam's Currency Practices

Furniture World News Desk on 1/15/2021

The U.S. Trade Representative recently issued findings in the Section 301 investigation of Vietnam’s acts, policies, and practices related to currency valuation, concluding that Vietnam ’s acts, policies, and practices including excessive foreign exchange market interventions and other related actions, taken in their totality, are unreasonable and burden or restrict U.S. commerce.  In making these findings, USTR has consulted with the Department of the Treasury as to matters of currency valuation and Vietnam’s exchange rate policy.  

The findings in this investigation are supported by a comprehensive report, which is being published today on USTR’s website.

“Unfair acts, policies and practices that contribute to currency undervaluation harm U.S. workers and businesses, and need to be addressed,” stated U.S. Trade Representative Robert E. Lighthizer.  “I hope that the United States and Vietnam can find a path for addressing our concerns.”  

USTR is not taking any specific actions in connection with the findings at this time but will continue to evaluate all available options.

The Section 301 investigation was initiated in October 2020.

The full report can be read here.