DoC Reviewing Vietnam’s NME Status

The Commerce Department announced Oct. 24 it will begin a review of Vietnam’s non-market economy status.

The review comes at the request of Vietnam. On September 8, government of Vietnam filed an official request that Commerce consider it a market economy citing the country’s economic reforms made in recent years.

"I hope that the United States will come up with the strong political will to recognize the market economy status of Vietnam, like you did to the Russian Federation," Vietnamese Prime Minister Pham Minh Chinh told U.S. Treasury Secretary Janet Yellen during a September 20 meeting in New York.

In 2002 the US determined the Russian Economy to be market-driven, limiting the scope of anti-dumping duties.   In November 2022 Russia's status was revoked.

Commerce said it will carefully review the information submitted by Vietnam concerning its market reforms, and will complete a review as expeditiously as possible, in accordance with US law. Commerce has 270 days to complete this review, which includes a public comment period before a determination is made. Public records on this investigation can be found at www.access.trade.gov