On July 19th, the Department of the Treasury reached an agreement with the State Bank of Vietnam to address U.S. concerns about Vietnam's currency practices.

 

According to the U.S. Trade Representative, they will coordinate with Treasury, to "monitor Vietnam's implementation of its commitments and work with Vietnam to ensure that it addresses the acts, policies, and practices related to the valuation of its currency that were found actionable in the Section 301 investigation."

 

For now, the Section 301 investigation remains open, but it seems no additional tariffs will be implemented as long as currency practice concerns are addressed.

 

Refer to the Press Releases from Treasury and USTR for additional information.

 

Refer to our original trade alert on New Section 301 Investigations - Vietnam