{ "id": "R41550", "type": "CRS Report", "typeId": "REPORTS", "number": "R41550", "active": true, "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "source": "EveryCRSReport.com", "id": 452773, "date": "2016-05-20", "retrieved": "2016-05-24T19:01:00.770941", "title": "U.S.-Vietnam Economic and Trade Relations: Issues for the 114th Congress", "summary": "The year 2015 was a memorable year in U.S.-Vietnam relations, marking the 40th anniversary of the end of the Vietnam War, the 20th anniversary of the reestablishment of diplomatic relations, the first U.S. visit by a Chairman of the Vietnamese Communist Party (VCP) (in July), and the conclusion of the Trans-Pacific Partnership (TPP) trade negotiations (in October). This year also will be marked with historical events, including the 15th anniversary of the United States granting Vietnam permanent normal trade relations (PNTR), the February signing of the TPP, and President Obama\u2019s first official visit to Vietnam in May. \nAccording to U.S. trade statistics, bilateral trade has grown from about $220 million in 1994 to $45.1 billion in 2015, transforming Vietnam into the 13th-largest source for U.S. imports and 37th-largest destination for U.S. exports. Vietnam is the second-largest source of U.S. clothing imports (after China), and a major source for electrical machinery, footwear, and furniture. Much of this rapid growth in bilateral trade can be attributed to U.S. extension of normal trade relations (NTR) status to Vietnam in 2001. Another major contributing factor is over 20 years of rapid economic growth in Vietnam, ushered in by a 1986 shift to a more market-oriented economic system.\nVietnam\u2019s incentive to join the TPP largely is contingent on greater market access in the United States, particularly for agricultural goods, aquacultural goods, clothing, and footwear. For the United States, Vietnam offers a significant market for U.S. exports, but some parties are concerned about Vietnam\u2019s protection of workers\u2019 rights, protection of intellectual property rights, and potential unfair competition from state-owned or state-controlled enterprises. Vietnam is also a party to negotiations to the Regional Comprehensive Economic Partnership (RCEP), a pan-Asian regional trade association that currently does not include the United States. It is uncertain how RCEP would affect Vietnam\u2019s interest and commitment to TPP, if both regional trade agreements are finalized. Congress would have to consider implementing legislation for the United States to comply with the TPP.\nThe growth in bilateral trade has not been without accompanying issues and problems. Vietnam would like the United States officially to recognize it as a market economy and to further relax U.S. restrictions on arms sales to Vietnam. In addition, the two nations have disagreed over U.S. treatment of the import of catfish-like fish known as basa, swai, or tra, from Vietnam. In 2008, the 110th Congress passed legislation that transferred the regulation of catfish from the Food and Drug Administration to the U.S. Department of Agriculture (USDA), which many analysts contend maintain stricter inspection standards than the FDA. The Vietnamese government strongly protested the law as a protectionist measure. The Agricultural Act of 2014 (P.L. 113-79) confirmed the transfer of inspection to the USDA, and explicitly included basa, swai, and tra as catfish. In November 2015, the USDA released final regulations for the import of catfish that went into effect in March 2016. While Vietnam continues to object to the regulatory change, it is making efforts to comply with the new U.S. inspection regime. \nThe 114th Congress may play an important role in one or more of these issues, as have past Congresses. The Human Rights Act of 2016 (S. 2632) opposes the \u201cfurther easing of the prohibition on the sale of lethal military equipment to the Government of Vietnam\u201d unless certain human rights conditions improve. The House report accompanying the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (H.R. 1890), cites a perceived lack of a \u201cmechanism to ensure compliance by TPP parties\u201d to international standards for labor laws and practices, and in particular Vietnam. Vietnam\u2019s compliance with a bilateral trade and labor relations side agreement to the TPP may factor in congressional consideration of the larger TPP agreement. This report will be updated as circumstances require.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41550", "sha1": "07d9f72f82126f399a124bf19f838dca42b5566f", "filename": "files/20160520_R41550_07d9f72f82126f399a124bf19f838dca42b5566f.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41550", "sha1": "e752af48caef7ed3d64d35df0484711c010add6e", "filename": "files/20160520_R41550_e752af48caef7ed3d64d35df0484711c010add6e.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4102, "name": "Major Economies and U.S. Trade Relations" }, { "source": "IBCList", "id": 473, "name": "Southeast Asia, Australasia, and the Pacific Islands" } ] }, { "source": "EveryCRSReport.com", "id": 441939, "date": "2015-06-09", "retrieved": "2016-04-06T18:58:08.064597", "title": "U.S.-Vietnam Economic and Trade Relations: Issues for the 114th Congress", "summary": "The year 2015 marks the 20th anniversary of the resumption of diplomatic relations between the United States and Vietnam. Since the resumption of diplomatic relations in 1995, Vietnam rapidly has risen to become a significant trading partner for the United States. Along with the growth of bilateral trade, a number of issues of common concern, and sometimes disagreement, have emerged between the two nations. Congress may play a direct role in developing U.S. policy on some of these issues.\nAccording to U.S. trade statistics, bilateral trade has grown from about $220 million in 1994 to $36.3 billion in 2014, transforming Vietnam into the 15th-largest source for U.S. imports and 44th-largest destination for U.S. exports. Vietnam is the second-largest source of U.S. clothing imports (after China), and a major source for footwear, furniture, and electrical machinery. Much of this rapid growth in bilateral trade can be attributed to U.S. extension of normal trade relations (NTR) status to Vietnam in 2001. Another major contributing factor is over 20 years of rapid economic growth in Vietnam, ushered in by a 1986 shift to a more market-oriented economic system.\nBilateral trade may increase if both nations become members of the Trans-Pacific Partnership (TPP), a trade agreement currently being negotiated by 12 countries, including the United States and Vietnam. Vietnam\u2019s incentive to join the TPP largely is contingent on greater market access in the United States, particularly for agricultural goods, aquacultural goods, clothing, and footwear. Vietnam is also a party to negotiations to the Regional Comprehensive Economic Partnership (RCEP), a pan-Asian regional trade association based on the Association of Southeast Asian Nations (ASEAN) that could exclude the United States and prove to be an alternative to the TPP. \nThe growth in bilateral trade has not been without accompanying issues and problems. Vietnam applied for, but has not been accepted into the U.S. Generalized System of Preferences (GSP) program, and is negotiating a Bilateral Investment Treaty (BIT) with the United States. Vietnam also would like the United States officially to recognize it as a market economy.\nThere also have been problems with U.S. imports of specific products from Vietnam, particularly catfish-like fish known as basa or tra. In 2008, the 110th Congress passed legislation that transferred the regulation of catfish from the Food and Drug Administration to the U.S. Department of Agriculture (USDA). The Vietnamese government strongly protested the law as a protectionist measure. The Agricultural Act of 2014 (P.L. 113-79) confirmed the transfer of inspection to the USDA, and explicitly included basa and tra as catfish.\nAn examination of recent trends in bilateral trade reveals that other product categories\u2014such as footwear, furniture, and electrical machinery\u2014could generate future tension between the United States and Vietnam. Other economic issues have had an indirect effect on bilateral relations, such as claims of poor working conditions in factories in Vietnam and allegations of inadequate intellectual property rights (IPR) protection in Vietnam. \nThe 114th Congress may play an important role in one or more of these issues, as have past Congresses. Also, Congress would have to consider implementing legislation if a TPP agreement is concluded. \nThis report will be updated as circumstances require.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41550", "sha1": "b84a0ade250342ea58fd5f3e07c433c016a17b99", "filename": "files/20150609_R41550_b84a0ade250342ea58fd5f3e07c433c016a17b99.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41550", "sha1": "50dd5f1f8e46444b2d027c30674afccdd55afd27", "filename": "files/20150609_R41550_50dd5f1f8e46444b2d027c30674afccdd55afd27.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4102, "name": "Major Economies and U.S. Trade Relations" }, { "source": "IBCList", "id": 473, "name": "Southeast Asia, Australasia, and the Pacific Islands" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc463246/", "id": "R41550_2014Aug13", "date": "2014-08-13", "retrieved": "2014-12-05T09:57:41", "title": "U.S.-Vietnam Economic and Trade Relations: Issues for the 113th Congress", "summary": "This report examines the bilateral trade issues between United States and Vietnam, discussing their main elements and exploring their potential implications for the 113th Congress.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20140813_R41550_b554938e193e10598bf3f38d4e006d3c461ee61d.pdf" }, { "format": "HTML", "filename": "files/20140813_R41550_b554938e193e10598bf3f38d4e006d3c461ee61d.html" } ], "topics": [ { "source": "LIV", "id": "International affairs", "name": "International affairs" }, { "source": "LIV", "id": "Trade agreements", "name": "Trade agreements" }, { "source": "LIV", "id": "Foreign relations -- Vietnam -- U.S.", "name": "Foreign relations -- Vietnam -- U.S." }, { "source": "LIV", "id": "Foreign economic relations -- Vietnam -- U.S.", "name": "Foreign economic relations -- Vietnam -- U.S." } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc306451/", "id": "R41550_2014Apr14", "date": "2014-04-14", "retrieved": "2014-07-08T21:53:44", "title": "U.S.-Vietnam Economic and Trade Relations: Issues for the 113th Congress", "summary": "This report examines the bilateral trade issues between United States and Vietnam, discussing their main elements and exploring their potential implications for the 113th Congress.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20140414_R41550_d3b1269d46a766a19b54b032b0d079f76bb7fd0a.pdf" }, { "format": "HTML", "filename": "files/20140414_R41550_d3b1269d46a766a19b54b032b0d079f76bb7fd0a.html" } ], "topics": [ { "source": "LIV", "id": "International affairs", "name": "International affairs" }, { "source": "LIV", "id": "Trade agreements", "name": "Trade agreements" }, { "source": "LIV", "id": "Foreign relations -- Vietnam -- U.S.", "name": "Foreign relations -- Vietnam -- U.S." }, { "source": "LIV", "id": "Foreign economic relations -- Vietnam -- U.S.", "name": "Foreign economic relations -- Vietnam -- U.S." } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc93852/", "id": "R41550_2012Jun11", "date": "2012-06-11", "retrieved": "2012-07-24T12:39:36", "title": "U.S.-Vietnam Economic and Trade Relations: Issues for the 112th Congress", "summary": "This report discusses the economic relationship between Vietnam and the U.S. that resumed in the 1990s. Of particular interest to Congress is that both nations may soon be members of the Trans-Pacific Strategic Economic Partnership Agreement (TTP).", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20120611_R41550_93882a4edf20ffea136bb57a176c9d03d3e0d12c.pdf" }, { "format": "HTML", "filename": "files/20120611_R41550_93882a4edf20ffea136bb57a176c9d03d3e0d12c.html" } ], "topics": [ { "source": "LIV", "id": "International affairs", "name": "International affairs" }, { "source": "LIV", "id": "Trade", "name": "Trade" }, { "source": "LIV", "id": "Trade agreements", "name": "Trade agreements" }, { "source": "LIV", "id": "Foreign trade", "name": "Foreign trade" }, { "source": "LIV", "id": "Foreign trade policy", "name": "Foreign trade policy" }, { "source": "LIV", "id": "International trade", "name": "International trade" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc97988/", "id": "R41550_2011Apr05", "date": "2011-04-05", "retrieved": "2012-08-21T08:46:06", "title": "U.S.-Vietnam Economic and Trade Relations: Issues for the 112th Congress", "summary": "This report discusses the economic relationship between Vietnam and the U.S. that resumed in the 1990s. Of particular interest to Congress is that both nations may soon be members of the Trans-Pacific Strategic Economic Partnership Agreement (TTP).", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20110405_R41550_8e825669fe259211fff12bda784f72fcf62f8077.pdf" }, { "format": "HTML", "filename": "files/20110405_R41550_8e825669fe259211fff12bda784f72fcf62f8077.html" } ], "topics": [ { "source": "LIV", "id": "International affairs", "name": "International affairs" }, { "source": "LIV", "id": "Trade", "name": "Trade" }, { "source": "LIV", "id": "Trade agreements", "name": "Trade agreements" }, { "source": "LIV", "id": "Foreign trade", "name": "Foreign trade" }, { "source": "LIV", "id": "Foreign trade policy", "name": "Foreign trade policy" }, { "source": "LIV", "id": "International trade", "name": "International trade" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc818021/", "id": "R41550_2010Dec27", "date": "2010-12-27", "retrieved": "2016-03-19T13:57:26", "title": "U.S.-Vietnam Economic and Trade Relations: Issues for the 112th Congress", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20101227_R41550_76809da4e744e809915afe2578fe29d5ba5fc0fa.pdf" }, { "format": "HTML", "filename": "files/20101227_R41550_76809da4e744e809915afe2578fe29d5ba5fc0fa.html" } ], "topics": [] } ], "topics": [ "Asian Affairs", "Foreign Affairs", "Industry and Trade" ] }