It envelops and monopolizes everything. The trade war driven by Donald Trump echoes in every corner of the world and monopolizes political leaders' conversations. Pedro Sánchez is on a tour of Vietnam and China that has gained more relevance and importance due to the ongoing trade war. The Spanish President held an early morning meeting on Wednesday - Spain time - with the country's Prime Minister, Pham Minh Chinh. During the bilateral meeting, the Spanish President advocated for "free trade to achieve development and prosperity." Vietnam is one of the countries on which Trump has imposed high tariffs, at 46%.
The head of the Spanish government is leading this mini Asian tour with the aim of deepening political and economic relations with these two countries. Seeking to pave the way for investments, exports, and expansion of Spanish companies. Sánchez arrived in Vietnam as the country celebrates the 50th anniversary of its reunification. It is the first visit by a Spanish president to this country. He was received with honors upon arrival at the Government Office.
In a trip coordinated and worked on with the EU, but in which Sánchez wants to raise Spain's own voice as a builder of more balanced alliances with Europe, Sánchez has been very critical of Trump's decision. "No one is interested in a trade war. Nobody wins. In a trade war, we all lose, and above all, it is the workers and the middle class of society who lose." Vietnam's Prime Minister has taken up the challenge and has asked Spain to be a "bridge of connection with Latin countries, and we will be a bridge for Spain to connect with Asia."
In this first stop of his trip, in Hanoi, with a more institutional and political profile, a series of agreements will be signed in areas such as agriculture and fisheries, two sectors that could be most affected by tariff impositions. The signing of these protocols, aimed at facilitating the export and trade of Spanish products, seeks to "strengthen our economic and commercial cooperation." Sánchez has highlighted the good moment of the economies to advance in this path.
Specifically, an agreement has been signed regarding cooperation and public consultations, another on food safety, animal health and plant health, and fishing that includes legislation exchange, business collaboration, cooperation between the countries in areas such as fertilizers and the quality of agri-food products, and combating agri-food fraud.
On the other hand, Vietnam's Prime Minister wanted to thank Spain, a "friendly country that has supported us in the renewal during these years." Although it will not be during this trip, there is a commitment for the future relationship between the two countries to escalate to a strategic partnership because what Vietnam wants, as expressed by Pham Minh Chinh, is for this Asian country to "facilitate cooperation with Spain." To make this possible, the Spanish Government will deploy a financial protocol that will support Spanish companies' investments in sectors of special interest (transport, infrastructure, energy, and water) in Vietnam through FIEM credits amounting to 305 million euros.
Pham Minh Chinh has emphasized Sánchez's visit with a delegation of 12 companies (Adif, Indra, Renfe, Recover, Palladium, Rolser, or Talgo, among others) - there are nearly a hundred Spanish companies in Vietnam. "I value the presence of Spanish entrepreneurs on this visit. It is an opportunity to open up the market for both parties, for entrepreneurs to connect and for our two economies to connect, which are complementary." Other areas in which Vietnam has shown willingness to cooperate are Defense and cybersecurity. "We agree to continue cooperating to deepen relations in areas such as defense and security."
The Vietnamese leader, in line with Sánchez's principles, has advocated for multilateralism and called for unity in a context of geopolitical and economic uncertainty. "Spain advocates for an international order based on rules. Trade wars benefit no one and harm everyone."