Vietnam urges US to reduce trade barriers

Vietnam has called on the US to minimize its trade barriers and play a more active role in the multilateral trade system

Photo: VNA

Vietnam has called on the US to minimize its trade barriers and play a more active role in the multilateral trade system.

A Vietnamese representative made the request at a session held at the World Trade Organisations (WTO) headquarters in Geneva on Sept. 29 and Oct. 1 to review the US ’s trade policies.

Head of the Vietnamese Delegation to the UN, WTO and other international organisations in Geneva Ambassador Vu Dung and officials from the Ministries of Industry and Trade, and Foreign Affairs attended the event.

The representative voiced concerns over the US ’s trade barriers that resulted in anti-dumping duties against frozen shrimp, plastic bags and tra fish (Pangasius) imported from Vietnam .

Vietnam expected that the US would re-examine its investigations on the imposition of anti-subsidy and anti-dumping tariffs before making decision to avoid affecting other WTO members.

Two-way trade between Vietnam and the US has grown steadily, reaching its peak of US$15 billion in 2009, 15 times higher than the figure in 2001 when the two nations had not signed the Bilateral Trade Agreement (BTA) yet.

The US has become as Vietnam ’s biggest importer in recent years, importing $11.5 billion worth of goods in 2009, accounting for one-fifth of the Southeast Asian country’s total exports. In the first five months of 2010, bilateral trade hit $7.75 billion, including $6.09 billion from Vietnamese exports.

The country emerged as the biggest foreign investor in Vietnam last year, with a combined registered capital of $9.8 billion.

The US is also an important partner of Vietnam in the current negotiations on the Trans-Pacific Strategic Economic Partnership Agreement.

 

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Vietnam urges US to reduce trade barriers

Vietnam has called on the US to minimise its trade barriers and
play a more active role in the multilateral trade system.

A Vietnamese representative made the request at a session held at the
World Trade Organisations (WTO) headquarters in Geneva on Sept. 29 and
Oct. 1 to review the US ’s trade policies.

Head
of the Vietnamese Delegation to the UN, WTO and other international
organisations in Geneva Ambassador Vu Dung and officials from the
Ministries of Industry and Trade, and Foreign Affairs attended the
event.

The representative voiced concerns over the
US ’s trade barriers that resulted in anti-dumping duties against frozen
shrimp, plastic bags and tra fish (Pangasius) imported from Vietnam .

Vietnam expected that the US would
re-examine its investigations on the imposition of anti-subsidy and
anti-dumping tariffs before making decision to avoid affecting other WTO
members.

Two-way trade between Vietnam and the
US has grown steadily, reaching its peak of 15 billion USD in 2009, 15
times higher than the figure in 2001 when the two nations had not
signed the Bilateral Trade Agreement (BTA) yet.

The
US has become as Vietnam ’s biggest importer in recent years,
importing 11.5 billion USD worth of goods in 2009, accounting for
one-fifth of the Southeast Asian country’s total exports. In the first
five months of 2010, bilateral trade hit 7.75 billion USD, including
6.09 billion USD from Vietnamese exports.

The
country emerged as the biggest foreign investor in Vietnam last
year, with a combined registered capital of 9.8 billion USD.

The US is also an important partner of Vietnam in the current
negotiations on the Trans-Pacific Strategic Economic Partnership
Agreement./.

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Vietnam’s shipments to U.S. to face more barriers

HANOI – Numerous trade barriers will likely go up stateside, choking off the flow off goods into the Northern American market, especially from ‘non-market economies’ like Vietnam, a practitioner said in Hanoi on Wednesday.

William Barriger, a legal counselor working alongside the Vietnam Chamber of Commerce and Industry (VCCI) since 2003 over the antidumping tax imposed on Vietnam’s shrimp, said an estimated 14 new trade barriers would go up in the U.S.

The lawyer of the law firm Winston & Strawn said at a meeting at the VCCI Office that the Secretary of the U.S. Department of Commerce in late August had announced new proposals to aid American exports related to the antidumping tax. These proposals, with the primary goal to bolster U.S. exports in the next five years, will in effect create new trade barriers and will defend punitive duties on certain imported products, Barriger said.

He informed the audience that the U.S. considered Vietnam a venue of concern when initiating antidumping lawsuits as Vietnam is also emerging as a production base besides China.

Many commodities originating from China are imposed anti-dumping tariffs stateside, so many manufacturers want to move their production facilities to Vietnam, he said. Any surge in imports into the U.S. from Vietnam may trigger questions on goods dumping, the legal adviser said.

The U.S. Department of Trade in its new proposals also changed the method of calculating antidumping tariffs with an aim to slap higher punitive taxes on imported products seen as being dumped in the U.S. soil, according to Barriger. For example, he said, Vietnam’s tra fish has recently been imposed higher punitive rate as the U.S. chooses Bangladesh for calculating the production cost to apply to Vietnam’s products.

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Vietnam’s shipments to U.S. to face more barriers

HANOI – Numerous trade barriers will likely go up stateside, choking off the flow off goods into the Northern American market, especially from ‘non-market economies’ like Vietnam, a practitioner said in Hanoi on Wednesday.

William Barriger, a legal counselor working alongside the Vietnam Chamber of Commerce and Industry (VCCI) since 2003 over the antidumping tax imposed on Vietnam’s shrimp, said an estimated 14 new trade barriers would go up in the U.S.

The lawyer of the law firm Winston & Strawn said at a meeting at the VCCI Office that the Secretary of the U.S. Department of Commerce in late August had announced new proposals to aid American exports related to the antidumping tax. These proposals, with the primary goal to bolster U.S. exports in the next five years, will in effect create new trade barriers and will defend punitive duties on certain imported products, Barriger said.

He informed the audience that the U.S. considered Vietnam a venue of concern when initiating antidumping lawsuits as Vietnam is also emerging as a production base besides China.

Many commodities originating from China are imposed anti-dumping tariffs stateside, so many manufacturers want to move their production facilities to Vietnam, he said. Any surge in imports into the U.S. from Vietnam may trigger questions on goods dumping, the legal adviser said.

The U.S. Department of Trade in its new proposals also changed the method of calculating antidumping tariffs with an aim to slap higher punitive taxes on imported products seen as being dumped in the U.S. soil, according to Barriger. For example, he said, Vietnam’s tra fish has recently been imposed higher punitive rate as the U.S. chooses Bangladesh for calculating the production cost to apply to Vietnam’s products.

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