WASHINGTON – Today, global tech association ITI issued the following statement reacting to the release of the Office of the U.S. Trade Representative’s (USTR) report on its Section 301 investigation into Vietnamese currency valuation practices and its decision to defer any potential trade action in connection with the investigation:
“ITI welcomes USTR’s decision today not to impose tariffs on Vietnamese goods under Section 301,” said Sam Rizzo, ITI’s Senior Director of Policy. “Vietnam is a key regional partner of the United States and a growing hub for trusted supply chain partners. In that role, it has helped to strengthen U.S. competitiveness both in the Asia Pacific region and globally, especially as companies have sought to move supply chains outside of China.”
“Going forward, President-elect Biden and his trade team should refrain from imposing tariffs on Vietnam and instead rely on a strategic, whole-of-government approach that uses bilateral engagement to tackle concerns around currency valuation.”
In prior written comments and testimony, ITI urged the U.S. government to avoid use of tariffs and rely on other existing policy mechanisms to address any potential substantive concerns identified as part of USTR’s Section 301 investigation into Vietnam’s currency valuation acts, policies, and practices.