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Image source, twitter.com/stevenmnuchin
US Secretary of the Treasury Steven Mnuchin met with Vietnam’s Deputy Prime Minister and Foreign Minister Pham Binh Minh on May 23.
The Office of the United States Trade Representative (USTR) invited contributors to comment after announcing two separate investigations involving Vietnam.
Previously, on October 2, the USTR announced that, by order of President Donald Trump, they have opened to investigate two issues related to Vietnam.
One is an investigation into whether Vietnam deliberately devalues the dong, causing harm to the United States.
The second is to investigate whether Vietnam’s timber export is based on illegal timber imports.
The announcement made by the US Trade Representative, in accordance with Section 301 of the Trade Act of 1974, is the same process the US uses to impose tariffs on Chinese goods imported into the US.
The USTR is now releasing additional documents and asking interested individuals to submit comments on the Regulations.gov website by 12/11/2020.
Dong Research
- Whether or not the Vietnamese currency will depreciate by how much
- Relevant Vietnam Policies
- US trade restrictions due to Vietnam behavior …
The USTR says that comments submitted must be in English and submitted online.
Image source, fake images
Will Vietnam be considered by the United States as “currency manipulation”?
Investigation of ‘illegal timber’
The USTR says the investigation is focused on questions such as whether illegal imports of illegal timber from Vietnam violate national or international law.
The US side explained that in 2019, Vietnam wood products exported to the US were worth up to $ 3.7 billion.
To have a supply of goods, Vietnam must import timber from many countries. The United States says the evidence so far shows that some of the imported timber is contraband.
The United States expressed concern over the news that much of the timber imported from Cambodia into Vietnam came from protected lands, in violation of international law.
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