Post-Pandemic Changes, Vietnam talks with US Trade Officials, Public Hearings Monday Morning
Monday Morning Wake Up Call
December 28, 2020
Firms Want to Adjust Supply Chains Post-Pandemic, but Changes Take Time
(WSJ) The coronavirus pandemic snarled the world’s sprawling supply chains for months, shutting factories, disrupting shipping and making it difficult for companies to get products from factories to consumers.
Now, many companies are considering changing the model to avoid future product shortages and transportation delays, even if it might increase costs. Some are looking at moving production closer to home. Others are considering spreading small factories around the world instead of putting all their manufacturing in one place.
There is little evidence of a big shift so far, given the costs and the uncertainty. But surveys and interviews with corporate executives show some have started to make changes and many are seriously considering them, though consultants say the moves could take several years to roll out.
Their decisions could ripple through the global economy, fueling growth in some places while curbing it in others. Prices for consumer goods could rise, as companies source from more expensive places. Higher inflation and interest rates could follow.
Vietnam says to meet U.S. trade officials, talks 'extremely important'
(Reuters) - Vietnamese and U.S. officials will meet late this month to discuss trade issues, Vietnam’s government said on Monday, after the U.S. Treasury last week labelled the Southeast Asian country a currency manipulator.
“Vietnam regretted the USTR (United States Trade Representative) decision on October 2 to launch section 301 investigation over Vietnam’s currency and timber,” the trade ministry told Reuters in an emailed statement.
The Trump administration last week named Vietnam a currency manipulator, a move that businesses said would pave the way for the USTR to impose tariffs on Vietnamese goods.
The ministry said it was “extremely important for the two sides to maintain talks at the moment”, adding that any move by the USTR to impose tariffs on Vietnamese goods would hurt bilateral trade relations.
To Read More: https://www.reuters.com/article/idUSKBN28V16Q
Vietnam’s Import and Use of Illegal Timber: Virtual Public Hearing on December 28
On Monday, December 28, 2020, at 9:30 a.m. EST, USTR will hold a virtual hearing for the Section 301 investigation concerning Vietnam’s import and use of timber that is illegally harvested or traded.
During the virtual hearing, the livestream will be available here.
The list of participants is available here.
After the hearing, the full transcript will be posted to this page:https://ustr.gov/issue-areas/enforcement/section-301-investigations/section-301-vietnam/vietnams-import-and-use-illegal-timber-virtual-public-hearing-december-28
Vietnam’s Currency Valuation: Virtual Public Hearing on December 29
On Monday, December 28, 2020, at 9:30 a.m. EST, USTR will hold a virtual hearing for the Section 301 investigation concerning Vietnam’s currency valuation.
During the virtual hearing, the livestream will be available here. The list of participants are available here. After the hearing, the full transcript will be posted to this page: https://ustr.gov/issue-areas/enforcement/section-301-investigations/section-301-vietnam/vietnams-currency-valuation-virtual-public-hearing-december-29
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