Vietnam, China, grow closer amid Trump tariffsーNHK WORLD-JAPAN NEWS
As Southeast Asian nations grapple with the threat of high tariffs imposed by the Trump administration, Chinese President Xiinping appears to be courting the region. Last month, Vietnam welcomed Shei as it seeks to deepen its economic ties with China to offset the US levies. NHK’s Guang Kamui reports. About 30% of Vietnam’s total exports goes to the United States. One such business is this fruit exporter in Benchair Province in the country’s south. We export large quantities of this coconut to the United States. In recent years, the company has increased its exports due to growing demand in the US. Now, more than half of its products goes there. But as it grapples with Trump’s so-cal reciprocal tariffs, the firm is being forced to diversify its export destinations. It is considering expanding its sales channels to neighboring China. We are very worried. We are entering into more markets. Besides the US market, we also have Canada, Australia, Japan, South Korea as well as a very big market in China. With the current situation, we will consider shifting to the China market and prioritize developing it. Meanwhile, in the north, a project to expand logistics networks is underway between the Vietnamese and Chinese governments. The plan includes a railway connecting the two countries. The proposed railway will be about 400 kilometers long, connecting the southern Chinese city of Kuning with Vietnam’s capital Hanoi and the port city of Hyam. If realized, trade between the two countries is expected to further grow. The total cost of the project is more than $8 billion. The Chinese side is considering investing in it. I think a railway connecting Vietnam and China will make us closer and our economies will develop better. It’s very good for Vietnam. Vietnam has territorial disputes with China over the South China Sea, but Hanoi is strengthening its relationship with Beijing to minimize the impact of US tariffs while diversifying its ties with other nations. We income tree and HK word Hanoi.
As Vietnam grapples with the effects of the Trump tariffs, it is turning north for relief. The country is now working to deepen economic ties with China. #asiapacific #asia #vietnam #china #politics #trumptariffs #trade #usa #donaldtrump #southchinasea
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