World News – AU – New tariff problems with Vietnam

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After four years, as Trump unsettled geopolitical allies and competitors – from Paris to Beijing – with trade-related threats and raids alike, he split up from Washington and could hit fashion importers directly.

In October, the Trump administration said it was investigating Vietnam’s logging industry practices, as well as looking to see if the country was giving its domestic producers an advantage by undervaluing its currency.

« President Trump is determined to combat unfair trade practices that harm American workers, businesses, farmers and ranchers, » said Robert Lighthizer, then United States sales representative.

Last month, the government officially declared that Vietnam was manipulating its currency, prompting sourcing and trade experts to re-worry that retaliatory tariffs, similar to those that keep goods from China more expensive, may be coming soon.

Vietnam is the second largest clothing importer to the USA. S.. . , account for 3. 7 billion square meters equivalents for the year ending in October, a 16th. 2 percent share of the import market with shipments valued at 12 US dollars. 6 billion. (China remains the largest clothing importer to the US. S.. . 36. 4 percent of the market worth $ 15. 5 billion).

Nate Herman, American Apparel’s senior vice president of policy, & Footwear Association, said, “We are extremely concerned that something may happen before the end of the Trump administration. ”

As soon as Joe Biden. January becomes president. 20, his government could reverse course on any action taken, but Herman said it would be more difficult to act politically when the duties are already in place and not simply planned or considered.

« We should now see [Vietnam] as a partner and a bulwark against China, rather than another target of another trade war, » Herman said. “It just seems to be going in the wrong direction. ”

Vietnam, Export, Customs

World News – AU – New customs problems with Vietnam

Ref: https://wwd.com

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