U.S. Trade Representative Robert Lighthizer announced yesterday he is launching an investigation of the trade practices of Vietnam, claiming that Vietnam has manipulated its currency to gain a trade advantage — a long-standing accusation against Vietnam which they have vigorously denied — and several other accusations. The investigation was implemented under Section 301 of the Trade Act of 1974, the same basis on which billions of dollars of tariffs was slapped on Chinese imports. Vietnam is one of the top ten trading partners of the U.S., while the U.S. had a $55 billion trade deficit in 2019.