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Thailand be careful! Trump seeks to investigate Vietnam currency manipulation
Date Oct 01, 2020 at 2:00 PM
Insiders say Trump is preparing to probe Vietnam on currency manipulation to gain business advantage Send alarms to many ASEAN countries, including Thailand.
The Bloomberg news agency reported, citing three internal sources, that the administration of US President Donald Trump was prepared to examine the manipulation of Vietnam’s currency to gain a trade advantage with the United States. Which is expected to be officially announced later this week.
The move comes after the US Department of Commerce and Finance announced last month. Vietnam has been intervening in the currency in connection with the purchase of tires for August.
Vietnam is one of the top 10 trading partners of the US From the beginning of the year through July, the US trade deficit with Vietnam reached US $ 34.8 billion. This is the highest after China, Mexico and Switzerland.
Trump has previously examined China’s currency manipulation and imposed tariffs on billions of dollars worth of Chinese imports, leading to a trade war between the two powers.
Linda Liu, an economist at the Maybank Research Center Kim Eng in Singapore sees that the research increased the likelihood that the United States would collect tariffs on Vietnam. But you can collect from certain types of products instead of scare away all products
Furthermore, Liu revealed that the situation with Vietnam would be a warning sign for other countries in the region to be careful. This includes Malaysia, which has been blacklisted, countries that may interfere with the currency announced by the United States earlier this year, and Thailand.
Bloomberg said the monetary intervention investigation took several months. Therefore, tariffs on Vietnamese products may not be enforced before the US presidential election in November.
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