Hearing on Investigation into Vietnam's Currency Valuation
We urge the Administration to engage in bilateral negotiations with Vietnam to address any concerning currency practices, and USTR should support the Treasury Department in this endeavor. We further urge USTR to carefully consider the negative impact of imposing tariffs 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. Finally, we urge USTR to ensure a fair, thorough, and transparent process that carefully considers this novel issue and implications of any potential actions.