On Friday, January 22, 2021, The United States Trade Representative (USTR) office issued in Federal Register Notice 86 No 13 FR 6732 the notice of determination related to the Section 301 investigation into Vietnam’s Currency Valuation practices.
This investigation was a two-part investigation into Vietnam related to both timber imports and currency valuation as previously noted in the Noatum Logistics Trade Alert here.
The USTR determined that Vietnam’s acts, policies, and practices related to currency valuation, including excessive foreign exchange market interventions and other related actions, taken in their totality, are unreasonable and burden or restrict U.S. Commerce, and thus are actionable under Section 301. The Vietnam Currency Valuation Final Report can be found on the USTR website.
The USTR can take action pursuant to Section 301(b), but no action will be taken at this time; however, they will address in subsequent proceedings.
If you have any questions, please reach out to your Noatum Logistics representative.