As you may already be aware, in October 2020, the USTR launched two separate investigations into Vietnam’s acts, policies, and practices related to currency valuation pursuant to Section 301 of the Trade Act of 1974.

Today, the USTR released a report concluding that Vietnam’s acts, policies, and practices – including excessive foreign exchange market interventions and other related actions – are unreasonable and burden or restrict U.S. commerce.   Despite this conclusion, in this report they also advised that no additional punitive duties will be immediately imposed on Vietnamese products.

While the USTR will not be taking any actions at this time, they will continue to evaluate all available options.

Click here to access the full report.

Click here to view the official USTR notice.

Shapiro will continue to monitor the situation and provide status updates as they become available.