Sunday, July 14, 2024
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Vietnam’s ties with China are evident in the US hearing on market economy upgrade

US President Joe Biden’s push to move Vietnam closer as a strategic ally clashed with his desire for votes from union workers on Wednesday, as trade advocates debated whether the Commerce Department should upgrade the communist-ruled country to trade status market economy.

The move, opposed by U.S. steelmakers, Gulf Coast shrimpers and U.S. honey farmers but supported by retailers and some other business groups, would reduce punitive anti-dumping duties on Vietnamese imports due to its current status as a non-market economy characterized by heavy state influence.

Vietnam’s deepening economic ties with China were raised on both sides of the issue during a virtual public hearing organized by the Commerce Ministry as part of a review. A decision will be made on July 26.



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