Reversing a decision made earlier this year, the U.S. removed Vietnam from a list of currency manipulators, The North State Journal reports.
Scrutiny of Vietnam’s currency practices followed an investigation into the country’s wood industry for allegedly importing illegally logged or traded timber. In response to the U.S. probes, Vietnam pledged to strengthen its logging regulations and purchase more American lumber.
The U.S.’s reversal of its currency manipulation claims against Vietnam may be a sign that the Biden administration will not go through with threats of additional tariffs on the country, according to ITTO.
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