As the ongoing U.S.-China tariff battle upends global trade, Vietnam has emerged as a large beneficiary. A new EU-Vietnam deal is solidifying Hanoi's position as a global trade winner.
In fact, Trump recently upped the rhetoric on Hanoi, telling an interviewer that "Vietnam is almost the single worst — that's much smaller than China, much — but it's almost the single worst abuser of everybody."
"If Trump does begin to talk seriously about tariffs, Vietnam will not be caught off guard," he said, adding that the government there has "navigated the Trump administration quite well."While the new trade deal apparently represents a solid victory for Vietnamese exporters, it also signals that Europe is serious about diversifying its trade relationships.
Looking at the bigger picture, Southeast Asia is the EU's third-largest trading partner after the U.S. and China, so any free trade advancements in the region are significant for the bloc.Bloomberg | Getty Images
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