Berliner Boersenzeitung - Vietnam, Spain pledge to upgrade ties after tariff shock

During a visit by Spanish Prime Minister Pedro Sanchez to Hanoi, he and counterpart Pham Minh Chinh signed a joint declaration aiming to elevate ties to the level of comprehensive strategic partnership.

It came on the same day US President Donald Trump's 20 percent tariffs on EU products, and a massive 46 percent levy on Vietnamese goods, came into force.

Sanchez said Spain was committed to an international order based on rules, "free trade and economic freedom".

"Trade wars benefit no one, but harm everyone," he said.

"In a global context as complex as the one we are in, the Spanish government is firmly committed to the opening up of our country and Europe to Southeast Asia," he added.

Chinh said Vietnam had proposed Spain be "a bridge to promote our relationship with the EU and Latin American countries (and), for its part, Vietnam agrees to be a bridge to strengthen the relationship between Spain and ASEAN (the Association of Southeast Asian nations)".

The pair signed five memoranda of understanding including on financial cooperation, culture cooperation and agricultural safety.

On Wednesday, Sanchez also met Vietnam's top leader, To Lam.

He will travel to Ho Chi Minh City, the Asian manufacturing powerhouse's commercial capital, to speak to business leaders on Thursday.

The Socialist prime minister then heads to China for his third visit in just over two years, where he is scheduled to meet President Xi Jinping and Chinese investors on Friday.

Sanchez broke with the rest of the European Union on his last trip to China in September 2024, urging the bloc to reconsider plans to impose high tariffs on Chinese electric cars and calling for a "fair trade order".

China and Vietnam currently sell much more to Spain than they buy.

(Y.Berger--BBZ)