The US Commerce Department criticized Vietnam’s government involvement in the economy, leading to inaccurate prices for calculating anti-dumping duties. Despite Vietnam’s progress, the ministry expressed disappointment over the US not recognizing its market economy status. The decision imposes discriminatory practices on Vietnamese businesses exporting to the US.
Vietnam holds market economy status with 72 countries and has 17 free trade agreements, but the US remains unconvinced. The US is Vietnam’s largest export market, but concerns over unfair trade practices persist.
Experts speculate that the US decision may aim to counter China’s influence using Vietnam as a supply chain alternative. The Biden administration faces pressure to address foreign policy concerns amidst rising competition in the region.
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