Vietnamese spokesperson for the Ministry of Foreign Affairs of Vietnam Le Thi Thu Hang

Le Thi Thu Hang, a spokesperson for the Ministry of Foreign Affairs of Vietnam, made the statement on July 24 after the Office of the United States Trade Representative (USTR) issued a formal determination in the Vietnam Currency Section 301 investigation one day earlier.

The USTR concluded that “no trade action is warranted at this time” and that the move reflects the agreement reached earlier this week between the US Department of the Treasury and the State Bank of Vietnam (SBV).

“This is a positive step following the agreement reached on July 19 between the State Bank of Vietnam and the US Department of the Treasury,” Hang said.

“This is also the result of constructive dialogue and goodwill of both sides to resolve problems in bilateral economic relations, towards building a stable and sustainable relationship that benefits both countries in the spirit of a Comprehensive Partnership,” she added.

Source: VOV

Vietnam, U.S. reach agreement over U.S.’s designation of Vietnam as currency manipulator

The U.S. Department of the Treasury and the State Bank of Vietnam (SBV) have reached an agreement over the former’s designation of Vietnam as a currency manipulator.