US delays sensitive Vietnam 'market economy' decision until August

25/7/2024 13:36

        The U.S. Commerce Department said on Wednesday it has delayed a difficult decision on whether to upgrade Vietnam to market economy status by about a week until early August, citing IT disruptions from the CrowdStrike software bug.
        
        A decision on the upgrade that Hanoi has long sought had been due by Friday. The upgrade is opposed by U.S. steelmakers, Gulf Coast shrimpers and honey farmers, but backed by retailers and some other business groups.
        
        It would reduce punitive anti-dumping duties on Vietnamese imports given the country's current status as a non-market economy marked by heavy state influence.
        
        A Commerce Department memorandum dated Wednesday and seen by Reuters said that "in light of ongoing disruptions to U.S. Department of Commerce ... IT resources and platforms" deadlines for final determinations in anti-dumping cases would be extended "by a total of six days."