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U.S. Opens Trade Case to Probe Vietnam Currency Undervaluation

  • USTR says ‘unfair’ FX practices harm U.S. workers, businesses
  • Vietnam says it doesn’t set policy to gain an export advantage
General Economy as 2017's Expansion of 6.8 Percent Among the Fastest in the World
Photographer: Ore Huiying/Bloomberg

The U.S. announced it’s opening a trade investigation into Vietnam’s currency policy to determine whether an undervalued dong hurts American businesses.

Trade Representative Robert Lighthizer announced the so-called 301 case late Friday in Washington, which will also target the Asian country’s import of illegal timber. The probe follows determinations in August by the U.S. Treasury and Commerce departments that Vietnam had manipulated its currency in a specific trade case involving tires.