United States Trade Representative Katherine Tai met virtually with Vietnam Minister of Industry and Trade Tran Tuan Anh this week, wherein they discussed the importance of the U.S.-Vietnam bilateral trade and investment relationship. The two leaders committed to increased collaboration bilaterally and regionally through the Association of Southeast Asian Nations (ASEAN).
Ambassador Tai highlighted the Biden Administration’s concerns about currency practices covered in the ongoing Section 301 investigation. Additionally, the ministers discussed U.S. concerns on illegal timber practices, digital trade, and agriculture.
Tai and Anh expressed that they both look forward to holding a meeting later this year under the bilateral Trade and Investment Framework Agreement to assess progress made in strengthening the trade relationship and in resolving outstanding bilateral issues. They agreed to sustained dialogue in the future.
According to the National Pork Producers, USTR began in October 2020 a Section 301 investigation into allegations that Vietnam manipulated its currency for unfair trade advantages. The Trump administration decided in January not to impose tariffs on Vietnamese imports, despite the investigation.
In late December, NPPC’s assistant vice president of international affairs testified that tariffs on Vietnamese imports would have left U.S. hog farmers vulnerable to further retaliation.
“Vietnam is a major pork-consuming nation dealing with African swine fever outbreaks in its domestic herd, yet tariff and non-tariff barriers restrict the United States from supplying this major pork-consuming nation with affordable, high-quality pork,” said NPPC. “One of NPPC’s top priorities is working to remove these tariff and non-tariff barriers.”