In case the USTR unilaterally pushes forward the imposition of duty on Vietnamese goods, the business community, producers and consumers of both countries will be the hardest hit. (Photo: VNA) Hanoi (VNA) – Any move by the US to impose tariffs on Vietnamesegoods would hurt bilateral trade ties, the Ministry of Industry and Trade (MoIT)said.
The ministry made the comment after Reuters reported thatthe US Department of Commerce is to continue imposing tariffs on Vietnamesegoods from December based on the accusation of the Southeast Asian country manipulatingits currency.
Vietnam regretted the US Trade Representative (USTR)’s decision on October 2 tolaunch investigation under Act 1974’s section 301 into Vietnam’s currency andtimber at a time when the two nations are enjoying fruitful relations acrossdiplomacy, culture, economy and trade.
Right after the USTR decided to initiate the investigation, Vietnam told the USside that it stood ready to cooperate during the investigation, and set upworking group to work with relevant partners in the US.
Representatives from the State Bank of Vietnam are scheduled to hold abilateral consultation with the US side late this month as agreed before, andit is extremely important for the two sides to maintain dialogue at the moment.
Vietnam hopes that the US will take an objective view during the investigationinto Vietnam’s policies and management so as not to affect the bilateralrelations and efforts to boost cooperation between the two countries and theirbusinesses, the ministry said.
In case the USTR unilaterally pushes forward the imposition of duty onVietnamese goods, the business community, producers and consumers of bothcountries will be the hardest hit. On the part of Vietnam, enterprises willlose confidence in doing business with their US partners, thus possibly resultingin a decline in the import of US materials and technology which can lead to areverse of the rising trend in imports from the US over the past several years./.
VNA
