Steel is among Vietnamese products that the US launches trade defence investigations against. (Photo: VNA) Hung described the US as the world's largest importer, withan annual value exceeding 3 trillion USD. Statistics from the US InternationalTrade Commission (USITC) showed that in the first half of this year, the US rana trade surplus of around 500 billion USD, proving that it is highly attractiveand a target of exporters worldwide. However, the US market is also verydemanding, with stringent requirements and high standards for many goods.
He noted that in order to reduce its trade surplus, the US has, and will continue to apply more trade defence measures.
As of late May, the US launched 55 trade defenceinvestigations against Vietnam, which accounted for nearly25% of the total number of anti-dumping investigations against Vietnameseexports. The investigations covered a wide range of products, from Vietnam’skey currency earners such as steel, wood, aquatic products, apparel, tires,high-pressure washers, to items of smaller export value like honey, grasstrimmers, foam mattresses, and woven bags, he said.
According to him, the US Department of Commerce (DOC) has proposed amendments and supplementsto several provisions on anti-dumping and anti-subsidy investigations, with afocus on labour-related policies and increased competition against unfair practicesfrom imported goods.
To protect the legitimate interests of businesses andmaintain a balanced, sustainable trade relationship between Vietnam and the US,various discussions and negotiations have taken place between leaders of the VietnameseMinistry of Industry and Trade (MoIT) and the US side, such as the Office of theUS Trade Representative (USTR) and the DOC.
The MoIT suggested the DOC conduct investigations with objectivity and fairness,providing the Vietnamese exporters with sufficient time to explain and supplyinformation to investigating authorities for verification. In cases the DOCdecides to apply anti-circumvention measures, Vietnam proposed that the US adopta simple and convenient mechanism for Vietnamese manufacturers and exporters toconfirm their compliance with anti-dumping measures, thus preventing additionalburden on Vietnamese exporters.
In the current context, Hung said Vietnam needs to make the best use of resources from the Governmentand businesses, closely monitor the situation, deal with issues flexibly anddecisively to protect its interests in the world's largest market.
He suggested that Vietnamese firms should equipthemselves with knowledge about legal regulations on trade defence measures ofthe World Trade Organisation (WTO) and the US in particular, adding that the MoITalso regularly holds workshops and training sessions on trade defence topics.
It is also essential to establish relationships, and join andcollaborate with relevant associations in the US, in order to gain additionalinformation and enhance exchanges. This could help avoid situations that USbusinesses initiate lawsuits against Vietnamese companies, he said./.
To protect the legitimate interests of businesses andmaintain a balanced, sustainable trade relationship between Vietnam and the US,various discussions and negotiations have taken place between leaders of the VietnameseMinistry of Industry and Trade (MoIT) and the US side, such as the Office of theUS Trade Representative (USTR) and the DOC.
The MoIT suggested the DOC conduct investigations with objectivity and fairness,providing the Vietnamese exporters with sufficient time to explain and supplyinformation to investigating authorities for verification. In cases the DOCdecides to apply anti-circumvention measures, Vietnam proposed that the US adopta simple and convenient mechanism for Vietnamese manufacturers and exporters toconfirm their compliance with anti-dumping measures, thus preventing additionalburden on Vietnamese exporters.
In the current context, Hung said Vietnam needs to make the best use of resources from the Governmentand businesses, closely monitor the situation, deal with issues flexibly anddecisively to protect its interests in the world's largest market.
He suggested that Vietnamese firms should equipthemselves with knowledge about legal regulations on trade defence measures ofthe World Trade Organisation (WTO) and the US in particular, adding that the MoITalso regularly holds workshops and training sessions on trade defence topics.
It is also essential to establish relationships, and join andcollaborate with relevant associations in the US, in order to gain additionalinformation and enhance exchanges. This could help avoid situations that USbusinesses initiate lawsuits against Vietnamese companies, he said./.
VNA
