President Joe Biden heads to a Vietnam that’s looking to dramatically ramp up trade with the United States.
that's looking to dramatically ramp up trade with the United States — a sign of how competition with China is reshaping relationships across Asia.
“We find ourselves in a situation where all of these changes around the world are taking place,” Biden explained about the Vietnam trip last month."We have an opportunity, if we’re smart, to change the dynamic.” “Whether it’s Vietnam or Malaysia, Indonesia, India, companies are really taking a hard look at those countries as places to do more business,” Raimondo said. “It is also true that they need to improve their workforce, housing, infrastructure and, I’d say, transparency in government operations.”slipped during the first three months of 2023. Its exporters faced higher costs and weaker demand as high inflation worldwide has hurt the market for consumer goods.
White House national security adviser Jake Sullivan saw an opening to broaden the U.S. relationship with Vietnam when one of its top officials, Lê Hoài Trung, visited Washington on June 29. At a fundraiser in Maine a few weeks later, Biden went public with the deal to a group of donors assembled in a barn.
Vietnam is “sending a pretty loud political message that they are worried enough about Beijing that they’re willing to elevate the U.S. relationship formally to the highest level that they have in their system,” Poling said on a call with reporters about the trip.
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