In relation to the investigation initiated by the Office of the United States Trade Representative (USTR) regarding systemic excess capacity and overproduction under Section 301 of the Trade Act of 1974 concerning Vietnam, the US-ASEAN Business Council has released two documents aimed at safeguarding the investment environment in Vietnam against trade investigations.These documents affirm that Vietnam’s economy operates under a market-based mechanism, with reduced government intervention and an open regulatory framework for foreign investment. Regarding labor issues, the documents emphasize that Vietnam has actively complied with international standards and has made efforts to eliminate forced labor, despite the absence of a specific import ban. The documents also warn that the imposition of tariff sanctions would seriously harm global supply chains as well as the economic interests of US businesses themselves.In summary, these sources support maintaining bilateral economic cooperation rather than applying rigid trade barriers.
Details are provided in the two attached documents below:
