U.S. Trade Chief Raises Concerns on Vietnam Currency Policy

[Viet]

By John Boudreau
2 April 2021, 02:13 CEST
Updated on 2 April 2021, 07:24 CEST
Katherine Tai
Photographer: Bill O’Leary/The Washington Post/Bloomberg


U.S. Trade Representative Katherine Tai raised concerns about Vietnam’s currency practices during a virtual meeting on Thursday with the country’s trade minister.

Tai also addressed U.S. concerns on illegal timber practices, digital trade and agriculture, according to a readout from her office of the meeting with Tran Tuan Anh, Vietnam’s minister of industry and trade. They agreed to a “sustained dialogue” in the future, it said.

Vietnam and the U.S. “will continue to actively cooperate to comprehensively address the concerns to maintain stable trade relations,” the trade ministry said in a statement posted on its website.

Vietnam’s currency had become a target in the Trump administration even as the former enemies continued to become closer to counter China’s rising military and economic might in the region. The U.S. has refrained from hitting Vietnam with punitive tariffs even after the U.S. Treasury designated the Hanoi government as a currency manipulator and the U.S. Trade Representative labeled Vietnam’s currency actions unreasonable and restrictive to American businesses.

The USTR’s determination in January was the result of an investigation that started last year under section 301 of the Trade Act of 1974 -- the same legislation the Trump administration used to apply tariffs on billions of dollars of imports from China.

U.S., Vietnam Interests ‘Aligned’ Amid Some Tensions: U.S. Envoy

Vietnam’s central bank has maintained it doesn’t use the exchange rate to create an unfair competitive advantage in international trade. The Southeast Asian nation’s wood industry has vowed to tighten regulations and buy more American lumber to avoid punitive tariffs that would devastate the sector.

Tai and Anh plan to hold a meeting later this year under the Trade and Investment Framework Agreement to work on “resolving bilateral issues,” according to the U.S. readout.

U.S. Trade Chief Raises Concerns on Vietnam Currency Policy

U.S. Trade Representative Katherine Tai raised concerns about Vietnam’s currency practices during a virtual meeting on Thursday with the country’s trade minister.

www.bloomberg.com

 

[Indos]

View attachment 730301
By John Boudreau
2 April 2021, 02:13 CEST
Updated on 2 April 2021, 07:24 CEST
Katherine Tai
Photographer: Bill O’Leary/The Washington Post/Bloomberg


U.S. Trade Representative Katherine Tai raised concerns about Vietnam’s currency practices during a virtual meeting on Thursday with the country’s trade minister.

Tai also addressed U.S. concerns on illegal timber practices, digital trade and agriculture, according to a readout from her office of the meeting with Tran Tuan Anh, Vietnam’s minister of industry and trade. They agreed to a “sustained dialogue” in the future, it said.

Vietnam and the U.S. “will continue to actively cooperate to comprehensively address the concerns to maintain stable trade relations,” the trade ministry said in a statement posted on its website.

Vietnam’s currency had become a target in the Trump administration even as the former enemies continued to become closer to counter China’s rising military and economic might in the region. The U.S. has refrained from hitting Vietnam with punitive tariffs even after the U.S. Treasury designated the Hanoi government as a currency manipulator and the U.S. Trade Representative labeled Vietnam’s currency actions unreasonable and restrictive to American businesses.

The USTR’s determination in January was the result of an investigation that started last year under section 301 of the Trade Act of 1974 -- the same legislation the Trump administration used to apply tariffs on billions of dollars of imports from China.

U.S., Vietnam Interests ‘Aligned’ Amid Some Tensions: U.S. Envoy

Vietnam’s central bank has maintained it doesn’t use the exchange rate to create an unfair competitive advantage in international trade. The Southeast Asian nation’s wood industry has vowed to tighten regulations and buy more American lumber to avoid punitive tariffs that would devastate the sector.

Tai and Anh plan to hold a meeting later this year under the Trade and Investment Framework Agreement to work on “resolving bilateral issues,” according to the U.S. readout.

U.S. Trade Chief Raises Concerns on Vietnam Currency Policy

U.S. Trade Representative Katherine Tai raised concerns about Vietnam’s currency practices during a virtual meeting on Thursday with the country’s trade minister.

www.bloomberg.com

This will scare foreign investor further......

 

[Viet]

This will scare foreign investor further......

As long as the tension between the US and China remains high there is no concern. Investors will continue to come in masse. The concern in my opinion is She is chinese that will be a tough negotiation for us.
She knows our tricks.

 

[Indos]

As long as the tension between the US and China remains high there is no concern. Investors will continue to come in masse. The concern in my opinion is She is chinese that will be a tough negotiation for us.
She knows our tricks.

Is she also dealing with China ??? It will be a massive advantage for China if it is the case, although she will likely be tough if she is very pro Taiwan and Hongkong......

 

[Viva_Viet]

This will scare foreign investor further......

We have FTA wt EU now while CN-EU was cancelled due to Uighur problems.

EU is big enough market for all investors in VN after CN lost the FTA deal.

 

[8888888888888]

We have FTA wt EU now while CN-EU was cancelled due to Uighur problems.

EU is big enough market for all investors in VN after CN lost the FTA deal.

Not going to happen, EU businesses will force their politicians to approve the deal. USA business is screwed because of Trump lackeys still in power. In fact the so called human rights concern is USA ploy to ruin the China and EU trade deal.

 

[Viva_Viet]

Not going to happen, EU businesses will force their politicians to approve the deal. USA business is screwed because of Trump lackeys still in power. In fact the so called human rights concern is USA ploy to ruin the China and EU trade deal.

Of course CN badly want the FTA deal wt EU now, but EU is under US's control, most of German MNCs r controlled by US after WW2.

So, chance for CN-EU FTA deal is almost Zero

 

[Viet]

Is she also dealing with China ??? It will be a massive advantage for China if it is the case, although she will likely be tough if she is very pro Taiwan and Hongkong......

According to her vita her parents fled the communist China to Taiwan. She will be tough on China to prove her loyalty to the US.
I think she has a soft spot on Vietnam because she knows we will help her new country America to resist chinese imperialism.

 

[Viva_Viet]

Is she also dealing with China ??? It will be a massive advantage for China if it is the case, although she will likely be tough if she is very pro Taiwan and Hongkong......

She's just a clown of the white master. No body care abt her.

 

[8888888888888]

Of course CN badly want the FTA deal wt EU now, but EU is under US's control, most of German MNCs r controlled by US after WW2.

So, chance for CN-EU FTA deal is almost Zero

Of course and Vietnam is a super power

According to her vita her parents fled the communist China to Taiwan. She will be tough on China to prove her loyalty to the US.
I think she has a soft spot on Vietnam because she knows we will help her new country America to resist chinese imperialism.

USA is a country in decline, the USD is losing its dominance.

 

[ZeEa5KPul]

She's just a clown of the white master. No body care abt her.

But that's what you want for Vietnam, right? To be a clown of the white master America. You should admire and emulate her.

 

[FairAndUnbiased]

Vietnam is a totalitarian dictatorship that manipulates currency to steal jobs yet has almost no intellectual property.

 

[Patriot forever]

At least vietnam is doing it for the benefit of their country, in Pakistan we criticize the government for maintaining just a market based currency and adore those who gave benefit to every other country which we import from while making it hard for even our local industries to survive by strangulating home market for them by over valuing our currency.
Poster boys for a debt driven consumption based growth at the cost of our future for mere political reasons.

 

[925boy]

This will scare foreign investor further......

Not really, because Vietnam has gained considerable leverage over western companies and economies that are trying to reduce reliance on China. VIetnam will continue grow in importance in manufacturing for the western world.

ALL US DO NOW IS COMPLAIN, thats what i notice - complain about everyting and fail at changing it, i think because US is broke now and cant "pay " countries to follow US directly...smh...its gonna keep getting harder..

 

[Indos]

Not really, because Vietnam has gained considerable leverage over western companies and economies that are trying to reduce reliance on China. VIetnam will continue grow in importance in manufacturing for the western world.

ALL US DO NOW IS COMPLAIN, thats what i notice - complain about everyting and fail at changing it, i think because US is broke now and cant "pay " countries to follow US directly...smh...its gonna keep getting harder..

Well, there is still Indonesia right ?? I mean Korean/ Japanese/ China investment, for example, may tend to chose Indonesia over Vietnam since Indonesian trade surplus with US is not as big as Vietnam, it can be said much much smaller.