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International Business Times
International Business Times
World
Shaun TANDON

Seeing US Ties, Vietnam Appeals For 'Market Economy' Status

Vietnamese Foreign Minister Bui Thanh Son (third on right) speaks during a meeting with US Secretary of State Antony Blinken on March 25, 2024 (Credit: AFP)

Vietnam on Tuesday called on the United States to recognize it as a market economy, saying stronger trade ties would benefit Washington in key areas as it seeks to diversify from China.

Vietnam and China are among a dozen countries designated non-market economies by the United States, allowing tougher actions on their exports. President Joe Biden's administration in October agreed to review Vietnam's status.

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