Vietnam Urges US to Reclassify Economy
Recently, Vietnam has been pushing the US administration to reclassify it as a "market economy" to avoid high US taxes on its imports.
Non-Market Economy Classification
- Criteria: Includes currency convertibility, wage determination, foreign investment, state ownership of production, and resource allocation control.
- Implications: Allows the US to impose anti-dumping duties on imports from designated countries.
Vietnam’s Economic Reforms
- Progress: Vietnam has implemented economic reforms including allowing foreign investment and free wage negotiations.
- Argument: Vietnam contends that these reforms warrant a change in its status to a market economy.
Impact of Anti-Dumping Duties
- Calculation Method: US uses a third-country benchmark to assess the ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 Interpol Launches ‘Silver Notice’ to Combat Transnational Crime
- 2 India Joins UN Committee of Experts on Big Data and Data Science for Official Statistics
- 3 US Withdraws from WHO
- 4 US Imposes New AI Chip Export Limits
- 5 Indus Waters Treaty: Neutral Expert's Affirmation
- 6 India & Maldives Review Defence Cooperation
- 7 India & Saudi Arabia Strengthen Bilateral Cooperation for Haj 2025
- 8 India & Japan Review Bilateral Cooperation
- 9 Quad Nations Reaffirm Commitment to a Free and Open Indo-Pacific
- 10 India and Indonesia Strengthen Maritime and Defence Ties

- 1 India, UK Reaffirm Commitment to Free Trade Agreement
- 2 India-Iran: 10-Year Deal for Chabahar Port Operations
- 3 Nepal Adds Disputed Territory to Currency Note
- 4 Norway, Ireland and Spain Formally Recognize a Palestinian State
- 5 EU's AI Act Set to Enforce Landmark Rules
- 6 ICC Requests Arrest Warrants against Hamas Leaders and Israeli PM
- 7 Russia and China Reaffirm “No-Limits” Partnership
- 8 NHRC Faces Accreditation Deferral by UN-Affiliated Body
- 9 Japan and China Express Concern Over India’s Laptop Import Licensing Measure