Background: The Trump Administration has not yet announced any tariff action against Vietnam, but it has officially labeled the government of Vietnam a currency manipulator and is moving forward with its Section 301 investigation. In its recent report, the Treasury Department found that Vietnam engaged in currency practices to create an "unfair competitive advantage in international trade" and highlighted the large expansion of Vietnam's export capacity for apparel and technology as one reason for the U.S.'s large trade deficit with Vietnam.
The Office of the United States Trade Representative (USTR) held two Section 301 hearings on December 28th and 29th. FDRA President & CEO Matt Priest testified on behalf of the footwear industry, strongly opposing any tariff action on Vietnamese-made footwear. Read Matt's hearing testimony.
As we learn more information on this important issue, we will continue to keep you updated via email and member phone calls.
