U.S. Commerce Department Delays Market Economy Status Decision for Vietnam

The U.S. Commerce Department has postponed a decision on upgrading Vietnam to market economy status until early August due to IT disruptions. The delay is significant as it affects anti-dumping duties and U.S.-Vietnam relations, especially following the death of Vietnam's Communist Party leader Nguyen Phu Trong.

The U.S. Commerce Department has postponed a crucial decision regarding Vietnam's market economy status by nearly a week, now set to be resolved in early August. This delay stems from ongoing IT disruptions, according to a memorandum from the department.

Originally expected by the end of the week, this decision is pivotal for both American businesses and Vietnamese importers. An upgrade would alleviate punitive anti-dumping duties imposed on Vietnamese goods, a measure that has been both supported and opposed by various U.S. industries.

The decision was further complicated by the recent death of Vietnam's Communist Party leader Nguyen Phu Trong. The postponement aligns with his state funeral, notably attended by U.S. Secretary of State Antony Blinken, highlighting the delicate balance of international relations amidst domestic policy decisions.

(With inputs from agencies.)