Vietnam says US ‘non-market economy’ label is bad for bilateral ties

Vietnam’s ambassador to the United States on Tuesday urged Washington to end its “non-market economy” label on Hanoi, warning that maintaining the resulting punitive duties on Vietnamese goods is bad for increasingly close bilateral ties.
Last year, the U.S. Commerce Department said it was reviewing Vietnam’s non-market economy status after Hanoi argued that it should be removed from the list applied in anti-dumping cases given economic reforms of recent years.
The non-market economy label, also applied to China and Russia due to heavy state involvement in their economies, among others, allows the U.S. to impose significantly higher anti-dumping duties on imports from designated countries by relying on third-country proxy pricing.
Under U.S. law, the review, launched on Oct. 24, must be completed within 270 days, around mid-July.