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France, Vietnam Set to Sign Dozens of Deals as Macron Visits Hanoi

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imgFrench President Emmanuel Macron will meet with Vietnamese authorities in Hanoi to sign dozens of agreements as part of his efforts to expand France's influence in the former colony, which is threatened by hefty US tariffs.

More than a dozen business executives are expected to accompany Macron on his first official visit to the country.

His visit is believed to be the first for a French president in almost 10 years, according to reports.

Macron is expected to supervise the signing of potentially 30 agreements while attempting to increase cooperation in several areas, including defense, research, satellites, aviation, nuclear energy, railways, and renewable energy.

Following US President Donald Trump's recent threats to put 50 percent taxes on EU imports starting in June, Macron's long-planned trip to Vietnam—the first stop on a broader Southeast Asian tour that also includes Indonesia and Singapore—comes as trade tensions with the 27-nation bloc have significantly escalated.

Prior to Macron's visit, European officials advised Vietnam to exercise caution in its concessions to the White House, as the export-dependent nation is also facing pressure from Washington to purchase more American goods to avoid 46 percent duties.

 

In talks with the US, reports indicated that Vietnam should make sure not to make decisions at the expense of European interests, noting Vietnamese leaders had been told this could jeopardise close relations with the EU, which has a free trade deal with Vietnam and is a major buyer of its goods.

It's unclear if Macron would emphasize that point as it might rely on the agreements France makes.

According to reports, negotiations between European aircraft manufacturer Airbus and Vietnam's low-cost carrier VietJet may be moving forward. That would come after 20 A330neo wide-body aircraft were delivered under a tentative agreement struck last year.

Also Read: Huawei Prioritizes AI Chips Over Smartphone Production

When asked about planes and Macron's messaging regarding U.S. concessions, the Elysee presidential office did not reply, but it had previously indicated that dozens of accords were anticipated.

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