The US highlighted Vietnam's commitment to addressing US concerns, which in turn, set an important example for the Indo-Pacific region. The Office of the US Trade Representative (USTR) has issued a formal determination in the Vietnam Currency Section 301 investigation confirming no trade action is "warranted at this time". US Trade Representative Katherine Tai. Source: CNN The move came following a related agreement was reached on July 19 between the US Department of the Treasury and the State Bank of Vietnam, in which the USTR said it has provided a satisfactory resolution of the subject matter under investigation. "I commend Vietnam for its commitment to addressing US concerns with its currency practices and setting an important example for the Indo-Pacific region," said US Trade Representative Katherine Tai. "Going forward, in coordination with Treasury, we will work together with Vietnam to ensure implementation, and we will continue to examine the currency practices of other major trading partners," she noted. Earlier this week, US Secretary of the Treasury Janet L.Yellen and SBV's Governor Nguyen Thi Hong held an online meeting to address the Treasury's concerns about Vietnam's currency practices as described in Treasury's Report to Congress on the Macroeconomic and Foreign Exchange… Read full this story
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