The American Soybean Association along with 70 other agricultural groups have expressed concern to U.S. Trade Representative Katherine Tai regarding proposed tariffs on Vietnam. The imposed tariffs are in response to a pair of Section 301 investigations alleging currency manipulation and illegal timber practices. ASA President Kevin Scott says his group doesn’t like the practice of imposing tariffs especially on Vietnam which is a top ten market for U.S. soy exports.
He says there have been other trade concerns with Vietnam and putting tariffs on them would just invite retaliation and create more problems.
Scott says besides expressing concerns to the US. Trade Ambassador about the tariff issue, they also recommended getting more people installed in the USTR’s office to work on trade issues.
In their letter to Tai, the Ag groups noted that there’s insufficient evidence that Vietnam manipulates its exchange rate and the better way to address the timber issue would be through an APHIS investigation rather than Section 301.
