Biden Administration Continues to Classify Vietnam as Non-Market Economy

Aug 2, 2024, 01:55 PM

The U.S. Department of Commerce announced its decision to continue classifying Vietnam as a non-market economy country. This decision, announced on Friday, is a setback for Vietnam's efforts to boost exports to its most important market. The Biden administration rejected Vietnam's request to be officially recognized as a market economy. In response, the Vietnam Trade Ministry expressed regret over the decision and stated that it will continue to submit another dossier requesting a review of the market economy status for Vietnam. The Trade Ministry emphasized that recognizing Vietnam as a market economy is an objective and fair decision.