U.S. Census Bureau trade data

Biden Administration Reaffirms Vietnam's Non-Market Economy Status on Friday

Aug 2, 2024, 01:34 PM

The U.S. Department of Commerce announced its determination on Friday that Vietnam will continue to be classified as a non-market economy country. This decision, confirmed by the Biden administration, was a setback for Vietnam, which had requested to be officially recognized as a market economy. The Biden administration's rejection of this request impacts Vietnam's efforts to boost exports to its most important market, the United States.