Hearings on Vietnam's Currency Manipulation Set for Dec. 29, Illegal Timber Imports for Dec. 28
Parties wishing to appear at a Dec. 29 online hearing on alleged Vietnamese currency manipulation must make a request to the Office of the U.S. Trade Representative by Dec. 10, including a testimony summary. The Section 301 investigation will examine how the intervention in exchange rates in Vietnam burdens American commerce. After the hearing, rebuttals can be submitted until 11:59 p.m. Jan. 7, 2021.
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When the investigations were first announced in October (see 2010050036), the notice said: “In light of the uncertainties arising from COVID-19 restrictions, USTR is not at this time scheduling a public hearing in this investigation.”
But HanesBrands asked for a hearing (see 2011130034) in its comment on the currency investigation, and noted that the statute requires that USTR hold a hearing if a party requests it. The USTR had held online hearings for other matters, such as the need for safeguards on Mexican blueberries. In other public comments, the majority of U.S. interests said that hiking tariffs on Vietnamese products would be harmful. Many commenters have said the evidence shows that Vietnam is not depreciating its currency so much as it is trying to keep its currency in a narrow band related to the dollar, which can mean appreciation and depreciation occurs.
USTR also will hold an online hearing the day before, Dec. 28, on the Section 301 investigation of Vietnam’s acts, policies and practices concerning the import and use of illegally harvested or traded timber. Trade groups and companies alike asked for a hearing in that case as well (see 2011160027). The majority of U.S. companies, nonprofits and trade groups that commented on timber also oppose tariffs. Requests to appear for the timber investigation also must be received by Dec. 10, and be accompanied by a testimony summary. Post-hearing rebuttal comments must be received by 11:59 p.m. EST on Jan. 6, 2021.
The USTR is not under any obligation to make its decision based on the majority of commenters' views -- there were dozens of companies and trade groups arguing against tariffs on Chinese imports, and few products were removed from lists. Even those that were removed were later targeted at a lower rate as two-thirds of all Chinese imports were ultimately part of the Section 301 tariff lists.