In an October 24 press release, the U.S. Department of Commerce (“Commerce”) announced that it will initiate a review of Vietnam’s current status as a “nonmarket economy”. Commerce’s decision follows an official request submitted by the Government of Vietnam on September 8, 2023, to recognize the country as a market economy, and a recent
On July 23, 2021, the U.S. Trade Representative issued a formal determination deciding not to take action against Vietnam in response to their currency practices under Section 301. The investigation, which was initiated in October of 2020 to examine Vietnam’s acts, policies, and practices related to the valuation of their currency, effectively concluded following
On July 19, 2021, the United States and Vietnam announced an agreement on currency practices. The announcement was made following a high-level meeting between U.S. Treasury Secretary Yellen and Vietnamese State Bank Governor Hong and in the context of rising U.S. concern over Vietnam’s foreign exchange market interventions. The agreement aims to address the currency
On May 24, 2021, The Department of Commerce (Commerce) announced its affirmative final determinations in the antidumping duty (AD) investigation and countervailing duty (CVD) investigation of passenger vehicle and light truck tires (PVLT). Notably, in the CVD investigation, Commerce found that exporters from Vietnam received subsidies including through undervalued currency exchange rates. This is the
On January 15, 2021, The U.S. Trade Representative (USTR) released a Section 301 report on Vietnam’s currency valuation practices. The report follows the conclusion of public hearings and submission of rebuttal comments in late December of 2020 and early January of 2021.
Notably, USTR’s press release states that “ USTR is not taking any specific
On December 28 and 29, the U.S. Trade Representative (USTR) conducted public hearings on Vietnam’s timber imports and currency practices. Participant lists and hearing transcripts are available below. Post-hearing rebuttal comments are due January 6 and 7.
More information on the initiation of the investigations and hearings is available in our October and November posts.
Last week, the U.S. Trade Representative (USTR) published two Federal Register notices announcing hearings for the recently initiated Section 301 investigations into Vietnam’s currency valuation practices (85 FR 75397) and import of illegal timber (85 FR 75398). The hearings follow the announcement of the investigations in October of this year and
Date: Thursday, October 15, 2020
Time: 9:00 AM Eastern Daylight Time
Duration: 1 hour
The second webinar in our Election 2020 series will focus on the candidates’ positions on International Trade issues and how the election results might impact businesses in 2021 and beyond. In this roundtable webinar, a team of lawyers
On Friday, October 2, 2020, the United States Trade Representative (USTR) announced that, at the direction of the President, a two-part investigation is being initiated into Vietnam under Section 301 of the Trade Act of 1974. USTR, in conjunction with the Department of the Treasury, will review policies related to the import and use of