WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) issued the following statement applauding the U.S. Department of Commerce’s decision not to grant market economy status to the Socialist Republic of Vietnam. This announcement follows Cassidy’s letter urging the administration to safeguard American industries—like Louisiana shrimpers and catfish farmers—and national interests.
“Vietnam is not a market economy and today’s decision upholds that fact,” said Dr. Cassidy. “This is a win for Louisiana shrimpers and catfish farmers and American jobs.”
Vietnam does not have a market economy as its currency is not freely convertible, lacks labor rights, and exercises extensive state intervention. Giving Vietnam market economy status would devastate U.S. industries already damaged by Vietnam’s unfair trade practices. It would outsource American jobs and hurt American workers.
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