By Francesco Guarascio
HANOI (Reuters) – European leaders are gearing up for visits to Vietnam in the upcoming months to strengthen ties with the Southeast Asian nation, officials revealed. This move comes amidst escalating tensions with Washington that could potentially impact their exports to the United States.
Former U.S. President Joe Biden had actively sought to enhance U.S. influence in this former adversary, viewing Vietnam as a crucial partner in his strategy to counter China. However, bilateral relations might face challenges if his successor, Donald Trump, enforces tariffs on Hanoi. Vietnam is at risk of being slapped with reciprocal tariffs due to its significant trade surplus, making it a potential target for Trump’s measures.
In light of this mounting uncertainty, European countries are intensifying their engagement with Vietnam. European Commission President Ursula von der Leyen and French President Emmanuel Macron are both reportedly planning visits in the coming months, as confirmed by European officials and diplomats. These visits, though still under discussion, are strategically aimed at bolstering economic and diplomatic ties between the regions.
“The wave of tariffs and export controls is on the rise…We aim to cultivate new opportunities for trade and investment with reliable partners,” stated von der Leyen in a video message to top officials from the Southeast Asian bloc ASEAN during their recent gathering in Hanoi, Vietnam’s capital.
Macron is expected to travel to Vietnam later in May to further enhance relations with the former colony, especially after the formal elevation of diplomatic ties by Paris last year. Meanwhile, von der Leyen might visit earlier to formalize the upgrading of relations. Preceding these high-profile visits, EU Trade Commissioner Maros Sefcovic could visit in April to lay the groundwork for future collaborations.
Although Macron’s office declined to comment, and the European Commission spokesperson couldn’t confirm the visits officially, sources indicate a positive momentum in strengthening ties between the EU and Vietnam. The Vietnamese foreign ministry did not respond to requests for comments on these developments.
From the perspective of trade, the EU imported goods worth $52 billion from Vietnam last year, positioning itself as Vietnam’s third-largest export market after the United States. This significant trade volume is supported by an existing free trade agreement between the EU and Vietnam.
In anticipation of potential U.S. tariffs, U.S. manufacturers operating in Vietnam, heavily reliant on exports to the U.S., fear workforce cuts, as indicated by a recent survey. While this scenario marks a concerning shift in global trade dynamics, it might lead to increased exports from Vietnam to the EU. This, in turn, could pave the way for greater investments by European companies in Vietnam, leveraging the surplus talent pool made available by the workforce adjustments.
Looking beyond trade, Vietnam is actively seeking to diversify its military supplies and ramp up public spending on infrastructure projects, including a major railway initiative. European companies are eagerly vying for contracts in these sectors, keen on capitalizing on the opportunities presented by
