Vietnam says U.S. probe over its currency, timber may harm both countries



Phuong Nguyen | Reuters

HANOI (Reuters) – A U.S. probe into Vietnam’s currency and timber could harm bilateral relations and negatively impact workers and consumers in both countries, Vietnam said on Friday, citing remarks by its trade minister to the U.S. Trade Representative (USTR).

The Trump administration in late December named Vietnam a currency manipulator, a move that businesses said could see the USTR impose tariffs on Vietnamese goods. It has also accused Vietnam of avoiding tariffs by mislabelling products made from Chinese timber.

“This investigation could cause many undesirable effects, damage bilateral relations, and have negative impacts on thousands of businesses, and millions of workers and consumers in Vietnam and the United States,” Vietnam’s trade ministry said in a statement, paraphrasing remarks by minister Tran Tuan Anh in a phone conversation with Robert Lighthizer on Thursday.

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