US to continue to classify Vietnam as non-market economy country

Vietnam has long sought an upgrade from its listing alongside just 12 economies labelled by Washington as non-market, including China, Russia, North Korea and Azerbaijan.

Such a move has been opposed by US steelmakers, Gulf coast shrimpers and honey farmers and members of the US Congress representing them, but backed by retailers and some other business groups.

“Today, the US Department of Commerce announced its determination that Vietnam will continue to be classified as a non-market economy country for purposes of calculating US anti-dumping duties on imports from Vietnam,” the department said in a statement.

“This finding means that the methodology used in calculating US anti-dumping duties on imports from Vietnam remains the same,” it said.

Vietnam has long argued it should be freed of the non-market label because of recent economic reforms, and it has said that retaining the moniker is bad for increasingly close two-way ties that Washington sees as a counterbalance to China.