HANOI: European leaders are preparing to visit Vietnam in the coming months as they seek to reinforce relations with the Southeast Asian nation.
The move comes at a time of growing trade tensions with Washington, which could impact Vietnam’s exports to the U.S., officials said.
During his presidency, Joe Biden worked to deepen ties with Vietnam, viewing the country as a crucial partner in his strategy to counterbalance China. However, with Donald Trump potentially returning to office, concerns are rising that he may impose tariffs on Vietnamese goods due to the country's significant trade surplus with the U.S. This uncertainty is prompting European nations to strengthen their economic and diplomatic engagement with Hanoi.
European Commission President Ursula von der Leyen and French President Emmanuel Macron are both expected to visit Vietnam in the coming months, although their trips have not yet been officially confirmed. According to European officials, these visits have been planned for some time and are not a direct response to U.S. trade policies.
"The landscape of tariffs and export restrictions is shifting… We aim to foster new trade and investment opportunities with trusted partners," von der Leyen stated in a video message to ASEAN officials during their recent meeting in Hanoi.
Macron may travel to Vietnam in late May to further deepen ties following France’s decision to upgrade diplomatic relations last year. Meanwhile, von der Leyen’s visit is expected to focus on formally enhancing EU-Vietnam relations. EU trade commissioner Maros Sefcovic could also visit as early as April, a senior EU official said.
Neither Macron’s office nor the European Commission have confirmed these visits, and Vietnam’s foreign ministry has yet to comment.
The EU imported $52 billion worth of goods from Vietnam last year, making it the country’s third-largest export market after the U.S. and China. However, if Trump enforces new tariffs, U.S. manufacturers operating in Vietnam—many of whom depend heavily on American buyers—may be forced to cut jobs, according to a recent survey.
While such trade disruptions could be highly damaging on a global scale, they may open new opportunities for European businesses. A shift in Vietnam’s export focus toward Europe could encourage more European investment in the country, particularly as companies look to tap into an increasingly available workforce, the EU official suggested.
Beyond trade, Vietnam is seeking to diversify its military suppliers and expand infrastructure projects, including a major railway initiative, attracting interest from European firms vying for contracts.
Europe is also stepping in on development initiatives, filling the void left by Trump's freeze on U.S. foreign aid. Belgium, for instance, is establishing a fund to resume the cleanup of land contaminated by Agent Orange, which was used by U.S. forces during the Vietnam War. The reclaimed land is expected to be transformed into profitable industrial zones, Belgian Ambassador to Vietnam Karl Van den Bossche said.
