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What will be the outcome of Vietnam's next market economy status review by end of 2024?
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Official announcement from the U.S. Department of Commerce
Story
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.
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