Vietnam’s wood industry, under investigation by the U.S. Trade Representative for allegedly importing illegally harvested or traded timber, is vowing to tighten regulations and buy more American lumber to avoid punitive tariffs that would devastate the sector. Vietnamese officials are concerned the Trump administration could hit Vietnam with new tariffs on timber as well as other products before it leaves power Jan. 20, said Do Xuan Lap, chairman of the Vietnam Timber and Forest Product Association. “We’ve been buying more and more timber from the U.S.,” he said ...
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