Chinese President Xi Jinping visited Hanoi on Monday to strengthen economic ties with Vietnam, as both nations signed numerous cooperation agreements amid rising tensions with the United States over tariffs.
The agreements, including deals on enhancing supply chains and rail infrastructure, come as both China and Vietnam face increasing U.S. duties, which have disrupted global trade flows.
Xi, who is on a broader Southeast Asian tour, emphasized the importance of boosting trade, production, and supply chain cooperation between the two Communist-run nations. He also called for deeper collaboration in sectors like artificial intelligence and the green economy, stating that “there are no winners in trade wars and tariff wars,” without directly referencing the U.S.
During the visit, Vietnam’s top leader, To Lam, and Xi oversaw the signing of dozens of agreements. However, the specifics of the deals, including whether they involve financial or binding commitments, remain undisclosed. One of the key agreements is aimed at bolstering cooperation between the China Council for the Promotion of International Trade and the Vietnam Chamber of Commerce and Industry, particularly regarding certification of goods' origins.
The growing trade relationship between China and Vietnam is significant, with Vietnam serving as a crucial hub for electronics, apparel, and other goods exported to the U.S. Despite tighter controls from Washington on trade with China, Vietnam continues to play a pivotal role in this trade dynamic. In the first quarter of 2025, Vietnam imported $30 billion worth of goods from China while its exports to the U.S. totaled $31.4 billion.
Vietnam is also moving forward with several major infrastructure projects with China, including new railways and the use of Chinese-made COMAC passenger jets in the country. This development marks a further deepening of ties between the two countries, although no formal loan agreements for the railway projects have been finalized yet.
Despite strong economic collaboration, tensions persist between China and Vietnam over territorial disputes in the South China Sea. Vietnam's recent concessions to the U.S., including allowing Elon Musk's Starlink satellite service and implementing anti-dumping duties on Chinese steel, have raised concerns in Beijing.
Xi’s visit is part of a broader Southeast Asian tour, which will also take him to Malaysia and Cambodia, two countries grappling with their own U.S. tariff challenges. Both are seeking relief from high duties that could hurt their economies, further highlighting the ongoing global ramifications of U.S. tariff policies.
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