USTR hearing on Vietnam’s import of timber

Source:
ITTO/Fordaq
Views:
471
  • text size

On 28 December the Office of the US Trade Representative (USTR) held a virtual hearing for the Section 301 investigation concerning Vietnam’s import and use of timber that may have been illegally harvested or traded.

The International Wood Products Association Executive Director ,Cindy Squires, testified at the hearing that Vietnam is important to the wood products trade both for import and export and that damaging tariffs can be avoided by better use of the US-Vietnam Trade and Investment Framework Agreement.

“We believe this framework provides for a high-level dialogue that can appropriately address both the subject of this hearing as well as Vietnam’s currency policies,” Squires testified.

She added that tariffs could lead to a number of unintended consequences including retaliation by Vietnam and a loss of influence as the EU continues its trade process with Vietnam.

The Section 301 currency investigation, along with a separate inquiry into Vietnam’s alleged use of illegal timber in furniture and other products will determine whether the US government imposes tariffs on Vietnamese goods shipped to the United States. The USTR is expected to complete its timber and currency investigations before 20 January.

Post comment