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October 4, 2021
US and Vietnam reach timber deal avoiding punitive tariffs
The US and Vietnam reached an agreement over illegally harvested and traded timber that will see the Asian nation avert punitive tariffs in the process. The accord "secures commitments that will help keep illegally harvested or traded timber out of the supply chain and protect the environment and natural resources,” and no trade action is warranted for now, the Office of the US Trade Representative said in an emailed statement Friday. The USTR opened a so-called section 301 investigation on Vietnam’s wood industry in October last year -- the same law ...
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