Central Louisiana News

U.S. Senator Bill Cassidy (R-LA) has expressed approval of the U.S. Department of Commerce's decision not to grant market economy status to the Socialist Republic of Vietnam. This decision follows a letter from Cassidy urging the administration to protect American industries, including Louisiana shrimpers and catfish farmers, as well as 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."

The senator emphasized that Vietnam's currency is not freely convertible, lacks labor rights, and experiences extensive state intervention. Granting market economy status to Vietnam would harm U.S. industries already affected by what he described as Vietnam’s unfair trade practices, potentially leading to job outsourcing and negatively impacting American workers.