Rumors of Possible Punitive Tariffs on U.S. Travel Goods Imports Continue to Grow
TGA continues to hear growing rumors that punitive tariffs on U.S. imports from Vietnam are being considered by the Biden administration under the Office of the U.S. Trade Representative’s (USTR) Section 301 investigation accusing Vietnam of currency manipulation. Such a decision would contradict the January 15 USTR announcement suspending the investigation or the Treasury Department’s April 16 report that found no currency manipulation by Vietnam. TGA strongly opposed punitive tariffs on Vietnam at a December 29, 2020 USTR public hearing. Vietnam is the #2 supplier of travel goods to the U.S. market. In 2020, U.S. travel goods imports from Vietnam increased 12.1%, with Vietnam supplying 19.6% of all U.S. travel goods imports during 2020.