Making news

Vietnam welcomes US decision not to take trade action against Vietnam

Vietnam welcomes the decision of the United States Trade Representative (USTR) on July 23 not to take trade action against Vietnam in connection with the investigation into Vietnam’s currency policy, Foreign Ministry spokesperson Le Thi Thu Hang said on July 24.

The USTR Office on July 23 issued a formal determination in the Vietnam Currency Section 301 investigation saying that the agreement reached between the US Department of the Treasury and the State Bank of Vietnam provides a satisfactory resolution of the matter subject to investigation and accordingly that no trade action is warranted at this time.

Responding to reporters’ question about the decision of the USTR, the spokesperson said it is a positive step following the agreement reached on July 19 between the SBV and the US Department of Treasury.

She stressed that it is also the outcome of constructive dialogue with good wills of both sides to address outstanding problems in bilateral economic ties, towards building a stable and sustainable relationship benefiting both sides in the spirit of the comprehensive partnership between Vietnam and the US./.