SFIA Opposes Tariffs on Vietnam Imports

In January a U.S. investigation found that Vietnam was manipulating its currency and using illegally harvested timber in products. An April review by the Treasury Department countered the January Report finding insufficient evidence of currency manipulation. With Vietnam emerging as a major sourcing option due to Section 301 Tariffs on Chinese products, similar tariffs on Vietnamese products would harm the industry and lead to price increases. As the Biden Administration weighs its options in response to Vietnam violations, SFIA joined other leading business interests on a letter to United States Trade Representative Katherine Tai opposing implementation of Section 301 tariffs on Vietnamese imports in response to the violations. SFIA will continue to urge the Administration to seek alternative remedies over tariffs for all trade violations.

For additional information please contact Bill Sells bsells@sfia.org SFIA SVP for Government and Public Affairs

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