NEWS & EVENTS

Ministry of Industry and Trade: The US does not impose taxes or penalties on Vietnamese exports

17/01/2021
On the afternoon of January 16, the Ministry of Industry and Trade officially announced after the US Trade Representative (USTR) reported on the Section 301 investigation into the issue of low monetary valuations of Vietnam.
Accordingly, the Ministry of Industry and Trade affirmed that the conclusion stated in the January 15 report of the USTR did not mention or recommend that the US Government impose tariffs or use sanctions on exported goods. import of Vietnam.
 


According to the Ministry of Industry and Trade, as the Chairman of the Vietnam subdivision in the Vietnam - US Trade and Investment Council (TIFA), at the same time is the agency assigned by the Prime Minister to take the lead of activities. Discussing with the US side to handle this case, the Ministry of Industry and Trade welcomed the USTR's conclusions stated in the above report.

"The USTR's decision has positive implications for the bilateral trade relationship, the business and investment environment in Vietnam and the multifaceted cooperation relationship between the two countries" - emphasized the Ministry of Industry and Trade.

Immediately after this report, Mr. Myron Brilliant, Executive Vice President of the US Chamber of Commerce announced that the business community of this country welcomed the information that the US Government would not impose tax on Vietnamese exports. Male.
Mr. Myron Brilliant added: "Trade sanctions are inadequate means of solving monetary pricing problems. Above all, the US business community strongly encourages the Government to promote relations. a closer strategic and trade partnership with Vietnam, which is becoming an increasingly important partner of the United States ".

The Ministry of Industry and Trade further affirmed that Vietnam attaches great importance to economic and trade relations with the US, considering this an important pillar and a strong driving force for the overall bilateral relationship.

Therefore, in the coming time, the Ministry of Industry and Trade affirms that Vietnam will continue its efforts to open markets, strengthen policy dialogue activities through the mechanism of the TIFA Council, and seriously implement the contractual agreements. cooperation between the two sides to achieve substantial results, comprehensively address the concerns of the US and Vietnam, thereby maintaining stable trade relations, towards a harmonious and sustainable trade balance. , mutually beneficial.

The ministry concluded: "The Ministry of Industry and Trade, in the role of the Co-Chair of the TIFA Council, and other ministries in Vietnam want and are willing to communicate with the leaders of the USTR and relevant agencies, including the ministerial level. the manager or technical level, in any form, to address concerns and make concrete progress on existing problems in the economic and trade relations between the two countries in a spirit of cooperation, goodwill and constructive the two sides can formally close the investigation ".

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