Minister of Industry and Trade Tran Tuan Anh talks on the phone with US Trade Representative Robert Lighthizer on January 7 on bilateral economic and trade issues (Photo: VNA) Hanoi, (VNA) – The US Trade Representative (USTR), inits report released on January 15 on findings in the Section 301 investigation ofVietnam’s acts, policies, and practices related to currency valuation, did notmention or recommend the imposition of tariff or any sanction measures onVietnam’s exports, the Ministry of Industry and Trade said on January 16.
The ministry informed the press on January 16 that the USTR’s reportprovided comprehensive information regarding the case, including the reasonsand purposes of the investigation.
The report did not mention or recommend imposing tariff or anysanction measures on Vietnam’s exports, the ministry said, noting that theefforts made at all levels, from Government leaders to officials of ministries,sectors, agencies, associations and businesses of both Vietnam and the US havebrought about positive outcomes.
The ministry, as chair of the Vietnam section in the Vietnam-US Trade and Investment Framework Agreement (TIFA) Council and the agency authorizedby the Prime Minister to work with the US in handling the case, welcomed theconclusion of the USTR’s report.
The USTR’s decision has a positive meaning to bilateral trade, Vietnam’sbusiness and investment environment and the multi-faceted cooperation betweenthe two countries, the Ministry of Industry and Trade said.
According to the Ministry, immediately after the report’srelease, Myron Brilliant, executive vice president ofthe U.S. Chamber of Commerce, announced that the US business communitywelcomed the news that the Trump Administration will notimpose tariffs on goods from Vietnam.
“Trade actions are an inappropriate means bywhich to address currency valuation questions,” he said in a statement, addingthat the business community strongly encourages the United States to foster acloser strategic and commercial partnership with Vietnam as that country growsin importance as a commercial market.
The Ministry of Industry and Trade stressed that Vietnamattaches importance to its economic and trade relations with the US,considering those relations an important pillar and a driver of the bilateralties between Vietnam and the US.
In the time ahead, Vietnam will continue with efforts to open upthe market, intensify policy dialogue through TIFA Council mechanisms andseriously implement bilateral cooperation agreements so as to producesubstantial outcomes and comprehensively address the concerns of the US andVietnam, thereby maintaining stable trade ties towards a sustainable andharmonious trade balance that benefit both sides.
“The Ministry of Industryand Trade, as co-chair of the TIFA Council, along with Vietnamese ministriesand sectors, is willing to talk with officials at all levels of the USTR andrelevant agencies, including at ministerial or working levels, in any form, toaddress concerns and create specific progress in outstanding problems ineconomic and trade relations between the two countries, in a cooperative,goodwill and constructive spirit, so that the two sides can officially end theinvestigations,” the ministry’s representative said./.
VNA
