U.S. trade agency drops tariff threat on Vietnam after currency agreement

The U.S. Trade Representative's office on Friday said it had determined that no tariff action against Vietnam was warranted after the country's central bank agreed with the U.S. Treasury not to manipulate its currency for an export advantage.

In a statement, USTR said it found that the U.S. Treasury-State Bank of Vietnam agreement earlier this week "provides a satisfactory resolution of the matter subject to investigation and accordingly that no trade action is warranted at this time."

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