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      "id": 105488,
      "date": "2002-09-09",
      "retrieved": "2016-05-24T20:04:53.330941",
      "title": "The Vietnam-U.S. Bilateral Trade Agreement",
      "summary": "On July 13, 2000, U.S. and Vietnamese negotiators signed a sweeping bilateral trade agreement\n(BTA). Following affirmative votes in Congress and the Vietnamese National Assembly, the BTA\nentered in into force on December 10, 2001, when the two countries formally exchanged letters\nimplementing the agreement.    Under the deal, the U.S. will extend temporary\nmost-favored nation\n(MFN, also known as normal trade relations [NTR] status) status to Vietnam, a step that will\nsignificantly reduce U.S. tariffs on most imports from Vietnam. The World Bank has estimated that\nVietnam's exports to the U.S. will rise to $1.3 billion -- 60% higher than 2000 levels -- in the first\nyear of MFN status, as U.S. tariff rates on Vietnamese exports will fall from their non-MFN average\nof 40% to less than 3%. In particular, Vietnamese garment exports are expected to record a tenfold\nincrease in the first year after receiving MFN treatment.\n  In return, Hanoi agreed to undertake a wide range of market-liberalization measures, including\nextending MFN treatment to U.S. exports, reducing tariffs on goods, easing barriers to U.S. services\n(such as banking and telecommunications), committing to protect certain intellectual property rights,\nand providing additional inducements and protections for inward foreign direct investment. Vietnam\nis the world's 13th most populous country, with 78 million inhabitants, roughly equal to the\npopulation of Germany. The U.S. and Vietnam reached an agreement in principle in July 1999, but\nfor nearly a year Vietnam delayed finalizing the deal because of intense divisions among the\nVietnamese Communist Party (VCP) leadership. \n  Under the requirements of Title IV of the Trade Act of 1974 -- Section 402 of which is\ncommonly referred to as the \"Jackson-Vanik amendment\" -- signing a bilateral trade agreement is\na necessary step for the U.S. to restore MFN treatment to certain socialist countries, including\nVietnam. Congressional approval of the BTA will allow the President to extend MFN treatment to\nVietnam. Such MFN status will be conditional because -- as with all Title IV BTAs -- it will require\nannual Presidential extensions, which Congress could disapprove. \n  This report outlines the terms of the BTA, identifies U.S. and Vietnamese motivations for\nentering into the deal, analyzes the reasons for Vietnam's delay in signing the agreement, and\nexplains Congress' role in the process of restoring normal trade relations treatment to Vietnam. This \nreport will be updated periodically. Further information on U.S.-Vietnam relations is available in\nCRS Issue Brief IB98033,  Vietnam-U.S. Relations . Further information on the\nlegislative and legal\nprocedures for handling the BTA is available in  CRS Report RS20717 ,  Vietnam Trade\nAgreement:\nApproval and Implementing Procedure .",
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      "id": "RL30416 2001-12-11",
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      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc819371/",
      "id": "RL30416_2001Jun20",
      "date": "2001-06-20",
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    {
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      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metacrs2003/",
      "id": "RL30416 2001-01-16",
      "date": "2001-01-16",
      "retrieved": "2005-06-12T11:31:44",
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      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc812978/",
      "id": "RL30416_2000Jul20",
      "date": "2000-07-20",
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  "topics": [
    "Economic Policy",
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