HANOI: In December 2020, the US Trade Representative (USTR) office organised a hearing to gather opinions from US businesses and organisations regarding suspicions that Vietnam’s increasing trade surplus with the US was caused by deliberate undervaluation of the Vietnamese dong.
The US Department of Treasury had labeled Vietnam and Switzerland as currency manipulators in Dec 16,2020 report, although this action on its own would not automatically activate tariffs or sanctions.
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