Spain and Vietnam have agreed to raise their diplomatic relationship to the highest level, in a move aimed at navigating the repercussions of steep new US tariffs.
Spanish Prime Minister Pedro Sánchez visited Hanoi on Wednesday, where he and Vietnamese Prime Minister Pham Minh Chinh (pictured together in main image) signed a joint declaration to upgrade bilateral relations to a comprehensive strategic partnership.
The agreement was announced on the same day that new tariffs from US President Donald Trump took effect, including a 20% duty on products from the European Union and a substantial 46% tariff on Vietnamese exports.
Reaffirming Spain’s stance on international trade, Sánchez stressed the country’s support for a rules-based global system, stating, ‘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,’ Sánchez said.
Prime Minister Chinh highlighted Vietnam’s hope that Spain would serve as ‘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 leaders also signed five memoranda of understanding, covering areas such as financial cooperation, cultural exchange, and agricultural safety standards.
Later that day, Sánchez held talks with Vietnam’s leader, To Lam.
He is scheduled to continue his visit on Thursday in Ho Chi Minh City, the economic hub of Vietnam, where he plans to meet with business leaders.
Following his Vietnam trip, the Spanish socialist (PSOE) prime minister will travel to China for his third visit in just over two years. He is expected to hold meetings with President Xi Jinping and Chinese investors on Friday. ALSO READ: Pedro Sánchez heads to China and Vietnam in wake of US tariffs storm.
During his previous visit to China in September 2024, Sánchez diverged from the broader EU stance by opposing punitive tariffs on Chinese electric vehicles and advocating instead for a ‘fair trade order’.
Currently, both Vietnam and China export significantly more goods to Spain than they import.
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Esta visita a Hanói marca el camino para un futuro repleto de oportunidades para nuestros países.
— Pedro Sánchez (@sanchezcastejon) April 9, 2025
En la reunión con el primer ministro Pham Minh Chinh, hemos firmado acuerdos en consultas políticas, agricultura, diplomacia, cultura y respaldo a la inversión española.
Apoyaremos… pic.twitter.com/VcIqETEUXE
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