U.S. Does Not Plan to Extend Monitoring Program on Vietnam Textile Imports

The U.S. Department of Commerce does not plan to extend the monitoring mechanism on textile and garment imports from Vietnam once it expires, said visiting Deputy U.S. Trade Representative John Veroneau in a meeting with Vietnamese Prime Minister Nguyen Tan Dung in Hanoi August 26, state media reported.

 

In the meeting, PM Dung asked the U.S. side to consider applying the general preferential system (GSP) to Vietnamese goods, as well as ending the monitoring program on Vietnamese garment imports.

 

Vietnam is now the fourth biggest textile and garment exporter to the U.S. market with a turnover of US$2.4 billion in the first half, accounting for 57 per cent of the Asian country’s total export value of the product.

 

This year, Vietnam is expected to ship US$5.4 billion worth of textiles and garments to the U.S. market to secure second place behind China in the export of these products stateside. (Labor)