Vietnam Shrugs Off the Loss of TPP
The export power wants to deepen its regional ties.
Hai Phong Port.
Photographer: Chau Doan/LightRocket via Getty ImagesThis article is for subscribers only.
Because of its export-driven economy, Vietnam probably would have benefited from the Trans-Pacific Partnership trade treaty more than any other nation. Now that President Donald Trump has withdrawn the U.S. from the deal, Vietnam is turning to its Asian neighbors.
The end of the treaty “will push us to expand in other markets,” says Nguyen Duc Kien, deputy head of the National Assembly economic committee. “We have a lot of potential to increase exports” to markets in the Association of Southeast Asian Nations and to some “countries where we have bilateral trade agreements, such as Japan.”