European leaders are planning to visit Vietnam soon to strengthen their relationship with the country. This is happening because there are tensions with the United States that might hurt Vietnam’s exports. Former U.S. President Joe Biden tried to improve ties with Vietnam, seeing it as an important ally against China. But now, if Donald Trump becomes president again, he might impose taxes on Vietnam’s goods, which could hurt trade.
Because of this uncertainty, European countries are stepping up their connections with Vietnam. Ursula von der Leyen, the head of the European Commission, and French President Emmanuel Macron are both expected to visit Vietnam in the next few months. These trips were planned a while ago and are not yet confirmed.
Von der Leyen recently spoke with ASEAN leaders in Vietnam, mentioning that rising tariffs and export controls are concerning, and she wants to create new trade partnerships. Macron is expected to visit later in May to further strengthen ties with Vietnam, which was once a French colony. There are plans for EU trade commissioner Maros Sefcovic to go to Vietnam in April.
Last year, the EU imported $52 billion worth of goods from Vietnam, making it the third-largest market for Vietnamese exports, following the U.S. U.S. companies in Vietnam, which depend heavily on sales to the U.S., are worried they might have to cut jobs if new tariffs are imposed.
Interestingly, if this happens, it might lead to more Vietnamese goods being sold to the EU, and European companies might invest in Vietnam. This could be good for the country as it wants to improve its military supplies and infrastructure, including new railways.
Additionally, Europe is trying to fill the gap left by the U.S. in foreign aid after Trump cut it off. Belgium is starting a fund to help clean areas contaminated during the Vietnam War by agents like Agent Orange. The goal is to turn these areas into productive industrial zones.
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