The Office of the United States Trade Representative (USTR) on October 2 launched two investigations of Vietnam under Section 301 of the Trade Act of 1974, including one into alleged currency undervaluation. The president has repeatedly complained about Vietnam’s large trade surplus with the United States, and the USTR action is one of several launched by the administration targeting Vietnam’s currency practices. But the administration has also touted the growing security partnership with Vietnam, which shares U.S. anxieties about China, and the trade actions could run counter to the broader strategic alignment between Hanoi and Washington.
Q1: What is Section 301 and why is Vietnam being investigated?
WASHINGTON: The Trump administration is close to declaring that 89 Chinese aerospace and other companies have military ties, restricting them from buying a range of US goods and technology, according to a draft copy of the list seen by Reuters.
The list, if published, could further escalate trade tensions with Beijing and hurt US companies that sell civil aviation parts and components to China, among other industries.Advertisement
23 Nov 2020 08:56AM(Updated: 23 Nov 2020 09:52AM) CNA
TAIPEI: A two-star Navy admiral overseeing US military intelligence in the Asia-Pacific region has made an unannounced visit to Taiwan, two sources told Reuters on Sunday (Nov 22), in a high-level trip that could vex China.
MANILA: President Donald Trump’s administration provided precision-guided missiles and other weapons to help the Philippines battle Islamic State group-aligned militants and renewed the United States’ pledge to defend its treaty ally if it comes under attack in the disputed South China Sea.
Prime Minister Scott Morrison says Australia’s pursuit of its national interests on the world stage has been wrongly interpreted as siding with the United States over China, declaring his government will not make a “binary choice” between the superpowers.
Move is latest chapter in deteriorating relationship with Beijing and improvement under Joe Biden is unlikely
Foreign policy analysts believe Trump wants to leave a tough-on-China legacy while simultaneously conducting a ‘scorched earth’ policy on his way out of the White House. Photograph: Saul Loeb/AFP/Getty Images
Donald Trump has banned US investment in a further 89 Chinese companies, and reportedly sent a navy admiral to Taiwan, as he seeks to secure a tough-on-China foreign policy legacy.
Multiple media outlets have reported plans by the Trump administration for a series of confrontations with China before Biden’s inauguration on 20 January, and the moves were largely expected. Foreign policy and political analysts believe Trump wants to leave a legacy of being tough on China, while simultaneously conducting a “scorched earth” policy on his way out of the White House.
USS Barry (DDG 52) transits waters of the Taiwan Strait, Nov. 20. (U.S. Navy/MCSN Molly Crawford)
SOUTH CHINA SEA – After conducting its fourth routine transit through the Taiwan Strait this year, Arleigh Burke-class guided-missile destroyer USS Barry (DDG 52) returned to South China Sea, Nov. 21, to conduct maritime security operations and promote peace and stability in the region.
“A continued presence in the South China Sea is vital in maintaining a free and open Indo-Pacific,” said Cmdr. Chris Gahl, Barry’s commanding officer. “The freedom of all nations to navigate in international waters is critically important. Barry’s transit of the Taiwan Strait yesterday ensured the right and instills the confidence of all nations to trade and communicate in the South China Sea.”
The national airline of Vietnam finally saw “the light at the end of the tunnel” when the National Assembly agreed with the Government’s proposal for solutions to help Vietnam Airlines overcome difficulties caused by the Covid-19 pandemic.
In the resolution of the 10th session, the 14th National Assembly approved two options. Firstly, the State Bank of Vietnam refinances and extends no more than two times for credit institutions (excluding those under special control) to allow Vietnam Airlines to borrow additional capital to serve production and business activities.
A Vietnam Airlines flight from Alaska brought Vietnamese citizens back to their home country in May. Photo: Ted Stevens Anchorage Airport, Alaska
At the same time, Vietnam Airlines is allowed to offer additional shares to existing shareholders to increase its charter capital. The Government will assign the State Capital Investment Corporation (SCIC) to buy shares in Vietnam Airlines on behalf of the Government under the right to buy shares of state shareholders in the mode of transfer of rights to buy. This investment is rated in Group A projects.