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The Trump administration’s new approach to undervalued currency as a countervailable subsidy threatens to increase trade tensions and impinge on monetary policy, the International Monetary Fund staff said in a report this week.
United Steelworkers, the petitioner in the case, asked for the extension.
The ITC preliminarily determined that tire imports were hurting the U.S. industry.
The investigation is the seventh to be self-initiated by the department during the Trump administration.
Vietnam recently committed to buying $3 billion of U.S. farm goods.
The president called Vietnam “almost the single-worst abuser of everybody” and added, “we'll start working on that too, by the way. I don't want to do too many at one time.”
“Yes, almost certainly a bilateral agreement with the Vietnamese. It may not even be a formal trade agreement. It may be just elements of what you would see in a full free trade agreement.”
On the agenda: “Pressing bilateral issues related to automobiles, agricultural trade, and electronic payment services” and “U.S. concerns about Vietnam’s proposed cybersecurity law.”
The Commerce Department has issued steep final duties on imports of certain cold-rolled steel products from Vietnam that are produced with Chinese material, determining that Vietnamese exporters have been circumventing existing antidumping and countervailing duty orders imposed by the U.S.
The Institute for Agriculture and Trade Policy says killing TPP would be an “important first step” in bringing trade in line with environmental efforts.