Section 301 Investigation into Vietnam’s Currency Valuation

RILA urges the Administration to use more specific authority provided to the Treasury Department to analyze and remedy any currency manipulation by Vietnam. However, if this Investigation is pursued and USTR concludes that Vietnam manipulated its currency to the detriment of U.S. commerce, we strongly urge it to carefully consider the negative impact of implementing enforcement actions against an important American trading partner and ally in a crucial region for U.S. supply chains and national security interests. Additionally, given the ongoing pandemic and ailing economy, we ask USTR to weigh the potential loss of American jobs and decreased affordability of everyday products that would result if tariffs are implemented on imports from Vietnam.