US rejects Vietnam's request to lift 'non-market economy' tag
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The Biden administration rejected Vietnam's request to be classified officially as a "market economy". Vietnam has been pressing for the status change since President Joe Biden's visit in September last year. The "non-market" economy label affects Vietnam in anti-dumping complaints. The US Commerce Department cited extensive government involvement in Vietnam's economy as the reason for the rejection. Vietnam has signed numerous free trade agreements and wants greater access to the US market. Changing Vietnam's market status has faced bipartisan Congressional push-back. Vietnam was removed from the US monitoring list for currency manipulation in 2022. Contact information for The Edge Communications is provided.



https://theedgemalaysia.com/node/721547