Vietnam: Lighthizer Says Vietnam Must Cut Its Trade Surplus With US

• Vietnam must take steps to cut its trade surplus with the US, Trade Representative Robert Lighthizer said in comments released on 29 Jul 19.
• The US has a growing trade shortfall with Vietnam, and the government “has been clear with Vietnam that it has to take action to reduce the unsustainable trade deficit,” Lighthizer said in written responses to the U.S. Senate Finance Committee.
• Measures Vietnam should take include “expanding its imports of goods from the United States and by resolving market access restrictions related to goods, services, agricultural products, and intellectual property,” he said.
• This come after the U.S. Treasury added Vietnam to a watchlist of countries being monitored for possible currency manipulation in May 19.
• President Donald Trump described Vietnam as “almost the single-worst abuser of everybody” when asked in Jun 19 if he wanted to impose tariffs on the nation.
• Lighthizer also criticized Vietnam for a “host of unfair trade barriers” U.S. businesses face in Vietnam.
• Vietnam’s Ministry of Foreign Affairs did not immediately respond to a request for comment.

External Link : https://www.bloomberg.com/news/articles/2019-07-30/lighthizer-says-vietnam-must-cut-its-trade-surplus-with-u-s