FX.co ★ Vietnam Steps Up Crackdown on Trade Fraud

Vietnam is poised to enforce more stringent measures against trade fraud and unauthorized transshipment, specifically focusing on Chinese products. This initiative is part of Vietnam's commitment to its agreements with the United States. According to a government document reviewed by Reuters, a new decree is forthcoming that will introduce "additional sanctions for origin fraud" and enhance inspection procedures. Authorities have been directed to intensify scrutiny of exports to the U.S., concentrating on items considered "susceptible to trade fraud or Chinese goods subject to trade defense measures by the European Union and the United States." Products identified for these checks include wooden furniture, plywood, steel machine parts, bicycles, batteries, wireless headphones, and various electronics.