According to information from the Ministry of Foreign Affairs of Vietnam on the evening of December 22, Prime Minister Nguyen Xuan Phuc had a phone call with US President Donald Trump to discuss the ongoing investigation by the US Trade Representative (USTR). Vietnam's monetary and wood raw material policies according to Article 301 of the 1974 US Trade Law.
Specifically on December 16, the US Treasury issued a report on "Macroeconomic and foreign exchange policies of major US trading partners", thereby putting Vietnam on the monitoring list of 10 countries. economy, including China, Japan, Korea, Germany, Italy, Singapore, Malaysia, Taiwan, Thailand and India. In particular, Vietnam (along with Switzerland) was identified by the US Treasury Department as a "currency manipulator".
At the conversation with President Trump, Prime Minister Nguyen Xuan Phuc affirmed that Vietnam is a developing country with limited economic potential, so it should manage monetary policy to control inflation and stabilize the macro economy. model, exchange rate management is not intended to create a competitive advantage in international trade. Here, Prime Minister Nguyen Xuan Phuc and President Trump agreed to assess that Vietnam - US relations have developed strongly in all fields after 25 years of establishing diplomatic relations, and especially in the years recently. The two leaders believe that the relationship between the two countries will continue to deepen and stabilize, bringing benefits to the two peoples, in which economic and trade cooperation is the focus and driving force of bilateral relations.