Vietnam, EU upgrade ties as US tariffs reshape global trade

Vietnam and the European Union on Thursday upgraded ties to a comprehensive strategic partnership, Vietnam’s highest diplomatic level, as both recalibrate trade amid disruptions to global finance driven by U.S. tariff pressure.

The upgrade places the EU on the same diplomatic footing as the United States, China and Russia and was announced during a visit to Hanoi by European Council President Antonio



Costa.

“At a moment when the international rules-based order is under threat from multiple sides, we need to stand side by side as reliable and predictable partners,” Costa said, adding that the partnership is about “developing spheres of shared prosperity.”

 Costa arrived in the Vietnamese capital Hanoi after India and the European Union reached a free trade agreement on Tuesday after nearly two decades of negotiation.