Law360 (January 15, 2021, 6:02 PM EST) — The Office environment of the U.S. Trade Representative uncovered that Vietnam’s currency manipulation is unfairly hindering U.S. organizations but held off on teeing up new tariffs against Hanoi on Friday, leaving a last selection in the circumstance up to the incoming Biden administration.
Just after a three-month investigation, the USTR observed that Vietnam’s persistent undervaluation of its currency, paired with its additional recent intervention in overseas trade marketplaces, artificially decreased the prices of Vietnamese exports to the U.S., leaving U.S. producers at a drawback.
“Unfair acts, procedures and practices that lead to currency undervaluation damage U.S. employees and corporations, and need to have to be…
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