US not impose tariff or sanction on Vietnam’s exports
The ministry informed the press on January 16 that the USTR’s report provided comprehensive information regarding the case, including the reasons and purposes of the investigation.
The report did not mention or recommend imposing tariff or any sanction measures on Vietnam’s exports, the ministry said, noting that the efforts made at all levels, from Government leaders to officials of ministries, sectors, agencies, associations and businesses of both Vietnam and the US have brought about positive outcomes.
The ministry, as chair of the Vietnam section in the Vietnam-US Trade and Investment Framework Agreement (TIFA) Council and the agency authorized by the Prime Minister to work with the US in handling the case, welcomed the conclusion of the USTR’s report.
The USTR’s decision has a positive meaning to bilateral trade, Vietnam’s business and investment environment and the multi-faceted cooperation between the two countries, the Ministry of Industry and Trade said.
According to the Ministry, immediately after the report’s release, Myron Brilliant, executive vice president of the U.S. Chamber of Commerce, announced that the US business community welcomed the news that the Trump Administration will not impose tariffs on goods from Vietnam.
“Trade actions are an inappropriate means by which to address currency valuation questions,” he said in a statement, adding that the business community strongly encourages the United States to foster a closer strategic and commercial partnership with Vietnam as that country grows in importance as a commercial market.
The Ministry of Industry and Trade stressed that Vietnam attaches importance to its economic and trade relations with the US, considering those relations an important pillar and a driver of the bilateral ties between Vietnam and the US.
In the time ahead, Vietnam will continue with efforts to open up the market, intensify policy dialogue through TIFA Council mechanisms and seriously implement bilateral cooperation agreements so as to produce substantial outcomes and comprehensively address the concerns of the US and Vietnam, thereby maintaining stable trade ties towards a sustainable and harmonious trade balance that benefit both sides.
“The Ministry of Industry and Trade, as co-chair of the TIFA Council, along with Vietnamese ministries and sectors, is willing to talk with officials at all levels of the USTR and relevant agencies, including at ministerial or working levels, in any form, to address concerns and create specific progress in outstanding problems in economic and trade relations between the two countries, in a cooperative, goodwill and constructive spirit, so that the two sides can officially end the investigations,” the ministry’s representative said.
Related News
Vietnamese goods are becoming more and more "qualified"!
10:17 | 25/03/2024 Import-Export
Bright spots at the beginning of the year
10:51 | 23/03/2024 Headlines
Latest News
ASEAN, RoK agree on transposition of AKFTA product specific rules
15:00 | 28/03/2024 Import-Export
Opportunities for digital technology businesses to go global
14:58 | 28/03/2024 Import-Export
Vietnam, China eye stronger border trade
14:57 | 28/03/2024 Import-Export
Improve competitiveness and sustainable development of the seafood industry
09:51 | 28/03/2024 Import-Export
More News
Business environment reform needs further promotion: expert
14:47 | 27/03/2024 Import-Export
Singapore is the largest foreign investor in VN in Q1
14:43 | 27/03/2024 Import-Export
Thai Binh boosts investment, trade cooperation with Germany
14:38 | 27/03/2024 Import-Export
Lifting obstacles to develop industrial parks
10:24 | 27/03/2024 Import-Export
Unlock capital flows and create favorable conditions for investors
10:22 | 27/03/2024 Import-Export
More than 300 businesses, manufacturers to attend VGMF 2024
15:55 | 26/03/2024 Import-Export
Connecting with FDI firms helps boost wood exports: insiders
15:52 | 26/03/2024 Import-Export
Doosan Vina exports nearly 2,000 tonnes of modules to US
15:51 | 26/03/2024 Import-Export
Wood processing enterprises strive to increase the proportion of individually designed goods
09:50 | 26/03/2024 Import-Export
Your care
ASEAN, RoK agree on transposition of AKFTA product specific rules
15:00 | 28/03/2024 Import-Export
Opportunities for digital technology businesses to go global
14:58 | 28/03/2024 Import-Export
Vietnam, China eye stronger border trade
14:57 | 28/03/2024 Import-Export
Improve competitiveness and sustainable development of the seafood industry
09:51 | 28/03/2024 Import-Export
Business environment reform needs further promotion: expert
14:47 | 27/03/2024 Import-Export