Steel is one of the Vietnamese products under US trade defense investigation. (Photo: VNA)
The tightening of US trade defense measures on imports in general and Vietnamese products in particular has made it increasingly difficult to export to this market, said consultant and head of the Vietnam Trade Office in the US, Do Ngoc Hung.
Hung described the U.S. as the world’s largest importer, worth more than $3 trillion annually. Statistics from the US International Trade Commission (USITC) show that the US recorded a trade surplus of around $500 billion in the first half of this year, showing that this is very attractive and a goal for exporters around the world. However, the US market is also very demanding, with strict requirements and strict standards for many products.
He noted that the US has adopted and will continue to adopt more trade defense measures to reduce its trade surplus.
As of the end of May, the US had opened 55 trade defense investigations against Vietnam, accounting for nearly 25% of all anti-dumping investigations against Vietnamese exports. The investigations covered a wide range of products, from Vietnam’s top foreign exchange earners such as steel, timber, aquatic products, clothing, tires and pressure washers, to items with lower export value such as honey, grass trimmers and foam mattresses and woven bags.
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According to him, the US Department of Commerce (DOC) has proposed amendments and additions to several provisions on anti-dumping and anti-subsidy investigations, with a focus on labor policy and strengthening competition against unfair manufacturing practices in imported goods.
He noted that the US has adopted and will continue to adopt more trade defense measures to reduce its trade surplus.
In order to protect the legitimate interests of companies and maintain a balanced and sustainable trade relationship between Vietnam and the US, various discussions and negotiations have been held between the officials of the Vietnamese Ministry of Industry and Trade (MoIT) and the US side, such as Office of the US Trade Representative (USTR) and the DOC.
The MoIT recommended that the DOC conduct the investigations objectively and impartially and give Vietnamese exporters sufficient time to make statements and provide information to the investigating authorities for review. In the event that the DOC decides to apply anti-circumvention measures, Vietnam proposed the US to establish a simple and convenient mechanism for Vietnamese manufacturers and exporters to confirm compliance with anti-dumping measures, thereby avoiding additional burden on Vietnamese exporters.
In the current context, Hung said Vietnam needs to make the best use of government and business resources, closely monitor the situation and address issues flexibly and decisively to protect its interests in the world’s largest market.
He suggested that Vietnamese companies should familiarize themselves with the legal regulations on trade defense measures of the World Trade Organization (WTO) and especially the United States, adding that the MoIT also regularly organizes workshops and training courses on trade defense issues.
It is also important to build relationships and join and collaborate with relevant U.S. associations to obtain additional information and improve exchanges. This could help avoid situations where American companies file lawsuits against Vietnamese companies, he said.
Republished article by Vietnamese state media VNA as part of a content sharing agreement between both parties. Link to original article: https://en.vietnamplus.vn/vietnamese-exports-face-us-trade-defence-measures/269150.vnp
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