USTR Initiates Vietnam Section 301 Investigation (updated January 16, 2021)

        
Following notices sharing updates with our esteemed Members about the USTR's investigation on Vietnam imports under Section 301 in Joint Official Letter No. 160/HHDMVN dated 04 December 2020 and Official Letter No. 002/2021/VITAS-CS dated January 8^th 2021, Vietnam Textile and Apparel Association (VITAS) respectfully informed on 15^th January 2021, the United States Trade Representative (USTR) has released findings in Section 301 Investigation of Vietnam’s Acts, Policies, and Practices Related to Currency Valuation. According to the investigation conclusion that USTR has just released, although Vietnam's monetary policy is found as “unreasonable” and creates a burden on US trade, thereby a basis for the US to take actions, yet USTR does not mention, or recommend the US Government to impose tariffs or impose sanctions on Vietnamese exports (“USTR is not taking any specific actions in connection with the findings at this time but will continue to evaluate all available options”)

Official news release can be found HERE. The original English report can be found HERE

This result is very positive for Vietnam. This has shown that the joint efforts at all levels from Government Leaders to Ministries, Agencies, Associations and businesses of both Vietnam and the United States have brought about positive results.

VITAS would like to extend our sincere appreciation to Alliance of industry associations, domestic and foreign partners and all levels of Government leaders for accompanying and speaking out for the interests of the business community during the recent advocacy period.

Attached file: Official Letter No. 009/2021/VITAS-CS dated January 16^th 2021