US Delays Decision on Vietnam’s Market Economy Status (1)

The announcement of the Biden administration’s decision on whether to classify Vietnam as a market economy, a step that could boost the Southeast Asian nation’s exports, has been extended by a week and will be taken by Aug. 2.

The delay on the Commerce Department ruling, previously expected to be made public by July 26, was confirmed by an agency spokesperson in an e-mailed response to questions from Bloomberg News.

The US currently classifies Vietnam as a “non-market economy,” which can be disadvantageous to Vietnamese exporters during anti-dumping petitions. The trade-reliant Southeast Asian economy has been pushing to lift its ...