U.S. Index Vietnam's currency

U.S. Index Vietnam’s currency

FxPremiere Forex Signals on WASHINGTON (Reuters) – President Donald Trump’s administration.

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The USTR said it consulted the Treasury Department on Vietnam’s exchange-rate policies.

“Unfair acts, policies and practices that contribute to currency undervaluation harm U.S. workers and businesses, and need to be addressed,” U.S. Index Trade Representative Robert Lighthizer said in a statement. “I hope that the United States and Vietnam can find a path for addressing our concerns.” US DOLLAR INDEX

China hands out $1.5 million

“Vietnam will continue its efforts to open its market and enhance policy dialogues and strictly adhere to agreements between the two sides…to maintain a stable trade relation with a target for a balanced, sustainable and mutually-beneficial trade,” the government said in a statement. Forex Signals Brief for Apr 17 Trump to Reboot the US

The Section 301 investigation – named after a provision in a U.S. trade law – was the same tool that Lighthizer used to launch a sweeping tariff war against China, which has left punitive U.S. tariffs on $370 billion worth of annual Chinese imports and prompted many companies to shift supply chains out of China. Vietnam has been a major beneficiary of investment from those companies seeking to avoid U.S. tariffs on China. U.S. tariffs over currency issue

The USTR’s decision to hold off on ordering tariffs against Vietnamese goods gives Biden’s nominee as trade representative, Katherine Tai, some breathing room in deciding how to approach Vietnam.

A spokesman for Biden’s transition team declined to comment on the USTR decision.

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The Vietnamese government said its trade ministry and related agencies are willing to talk with the USTR to address the outstanding issues in the trade relations between the two countries to officially close the investigation.