June 15, 2024

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US Chides Vietnam Above Forex, But Makes No Tariff Threat

Regulation360 (January 15, 2021, 6:02 PM EST) — The Office environment of the U.S. Trade Consultant discovered that Vietnam’s currency manipulation is unfairly hindering U.S. organizations but held off on teeing up new tariffs versus Hanoi on Friday, leaving a final final decision in the case up to the incoming Biden administration.

After a a few-thirty day period investigation, the USTR discovered that Vietnam’s persistent undervaluation of its forex, paired with its extra new intervention in foreign exchange marketplaces, artificially reduced the costs of Vietnamese exports to the U.S., leaving U.S. producers at a disadvantage.

“Unfair functions, procedures and techniques that contribute to currency undervaluation harm U.S. personnel and corporations, and want to be…

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