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In It to Win It

(12,316 posts)
Mon Apr 14, 2025, 08:43 AM Apr 2025

China, Vietnam sign deals as Xi visits Hanoi amid US tariff tensions

HANOI (Reuters) -China's President Xi Jinping on Monday called for stronger ties with Vietnam on trade and supply chains amid disruptions caused by U.S. tariffs, as he attended in Hanoi the signing of dozens of cooperation agreements between the two Communist-run nations.

The visit, planned for weeks and part of a wider trip in Southeast Asia, comes as Beijing faces 145% U.S. duties, while Vietnam is negotiating a reduction of threatened U.S. tariffs of 46% that would otherwise apply in July after a global moratorium expires.

"The two sides should strengthen cooperation in production and supply chains," Xi said in an article in Nhandan, the newspaper of Vietnam's Communist Party, posted ahead of his arrival on Monday. He also urged more trade and stronger ties with Hanoi on artificial intelligence and the green economy.

"There are no winners in trade wars and tariff wars," Xi added, without mentioning the U.S. specifically.

https://www.yahoo.com/news/chinas-xi-meet-vietnam-leaders-000258490.html
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China, Vietnam sign deals as Xi visits Hanoi amid US tariff tensions (Original Post) In It to Win It Apr 2025 OP
. dalton99a Apr 2025 #1
From the AP nitpicked Apr 2025 #2

dalton99a

(92,078 posts)
1. .
Mon Apr 14, 2025, 09:00 AM
Apr 2025
https://www.washingtonpost.com/world/2025/04/14/china-vietnam-trade-war-xi-jinping/

China’s Xi promises Vietnam the ‘stability’ of neighborhood diplomacy
China’s Xi Jinping is visiting Vietnam, Cambodia and Malaysia — countries President Donald Trump hit with tariffs — and presenting himself as a reliable partner.
April 14, 2025 at 5:23 a.m. EDT
By Lily Kuo

...

Xi should find ready listeners on his trip. Vietnam is still reeling from Trump’s threat to impose a 46 percent tax on its exports to the U.S.

Vietnam ran a $123 billion trade surplus with the United States last year, up almost 20 percent from the year before, in part because manufacturers relocated from China to its southern neighbor to avoid the tariffs imposed on China in his first term.

Cambodia was hit even harder over its $12 billion trade surplus, with Trump threatening 49 percent tariffs. They are among the 75 countries to win a 90-day delay for negotiations.

But there are limits to how much support China can expect to gain in a region where it is embroiled in territorial disputes, as well as security and trade tensions with almost all of its neighbors. Analysts say Southeast Asian countries have long been worried about cheap Chinese goods flooding their markets.

Southeast Asia is a particular target for Chinese goods. The Association of Southeast Asian Nations, a grouping of 10 states, is China’s largest trading partner, accounting for 17 percent of the country’s total exports. Data on Monday showed exports to ASEAN grew 8 percent year over year to reach $146 billion during the first quarter.

The increase is a sign Chinese exporters may already be routing their goods to the U.S. through third countries, a strategy called transshipment that has been used since Trump’s first trade war with China to get around tariffs. Analysts say it is likely that these routes are the Trump administration’s next target as it negotiates tariffs with Southeast Asian and other countries that Chinese exporters have used for transshipping.

...

nitpicked

(1,591 posts)
2. From the AP
Mon Apr 14, 2025, 09:40 AM
Apr 2025
https://apnews.com/article/xi-visit-vietnam-china-us-trade-d7046613bff2c9ef31162ae8dd436263

HANOI, Vietnam (AP) — China’s leader Xi Jinping said no one wins in a trade war as he kicked off a diplomatic tour of Southeast Asia on Monday, presenting China as a force for stability in contrast with U.S. President Donald Trump’s latest tariffs moves.
(snip)

He also met with Vietnam’s Prime Minister Pham Minh Chinh. The two sides signed a series of memorandums, whose details were not made public. Nhan Dan, the official mouthpiece of Vietnam’s Communist Party, said that China and Vietnam will speed up a $8 billion railway project connecting the two countries in a deal that was approved in February.
(snip)

After Vietnam, Xi is expected to go to Malaysia next and then Cambodia.
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