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Vietnam not to blame for trade deficit: US firms - VnExpress International


Vietnam not to blame for trade deficit: US firms
By Quynh Trang   January 1, 2021 | 10:15 pm GMT+7
Workers at a footwear factory in Hanoi. Photo by Reuters.
Several American businesses and organizations worry about risks of the U.S. applying tariffs on Vietnam s exports, citing the U.S. s large trade deficit is not due to currency valuation.
In December 2020, the U.S. Trade Representative (USTR) office organized a hearing to gather opinions from U.S. businesses and organizations regarding suspicions that Vietnam s increasing trade surplus with the U.S. was caused by deliberate undervaluation of the Vietnamese dong.
The U.S. Department of Treasury has labeled Vietnam and Switzerland as currency manipulators in a report issued on December 16, though this action on its own would not automatically activate tariffs or sanctions. ....

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