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IA joined a letter to United States Trade Representative Katherine Tai and other Cabinet Officials opposing potential Section 301 tariffs on imports from Vietnam. The letter acknowledges press reports that USTR may soon issue a list of goods imported from Vietnam upon which it proposes to levy Section 301 tariffs pursuant to the Trump administration’s “currency manipulation” investigation. The Biden Administration is currently deciding on next steps after the Trump administration concluded in January 2020 that Vietnam’s policies and practices — including excessive foreign exchange market interventions and other related actions — taken in their totality, are unreasonable and burden or restrict U.S. commerce. In November 2020, members of the USTR Labor Advisory Committee recommended USTR impose an 8.4 percent tariff on Vietnamese imports. That was the amount the IMF estimated Vietnam’s currency was undervalued in 2018. The USTR report in January noted the U.S. Treasury Department determined Vietnam’s dong was undervalued by 4.7 percent in 2019. However, the Biden administration in April 2021 reversed the Trump administration’s decision to formally label Vietnam a currency manipulator.