Trump to Remove Vietnam from U.S. Tech Export Restrictions

Politics

Trump to Remove Vietnam from U.S. Tech Export Restrictions

1 hour ago

News sources:

REUTERS

SCMP

CHANNELNEWSASIA

Trump to Remove Vietnam from U.S. Tech Export Restrictions

Credited from: CHANNELNEWSASIA

Trump promises to remove Vietnam from technology export restrictions.
The announcement follows significant aerospace contracts valued at nearly $37 billion.
The two leaders met for the first time during Trump's "Board of Peace" meeting.

U.S. President Donald Trump informed Vietnamese leader To Lam that he would "instruct the relevant agencies" to remove Vietnam from the list of countries restricted from accessing advanced U.S. technologies. This significant development was announced following their first formal in-person meeting at the White House, which took place after Lam attended Trump's inaugural "Board of Peace" event in Washington, according to Reuters, South China Morning Post, and Channel News Asia.

This announcement coincides with several significant aerospace contracts; Vietnamese airlines are set to purchase nearly $37 billion worth of aircraft from U.S. manufacturers including Boeing. Notably, fledgling carrier Sun PhuQuoc Airways has ordered 40 Boeing 787 Dreamliners, while Vietnam Airlines is set to acquire 50 Boeing 737-8 aircraft, reports Reuters and South China Morning Post.

The U.S. and Vietnam have been engaged in complex trade negotiations, especially as Trump recently signed off on a new global 10% tariff affecting all imports, which followed a Supreme Court ruling that invalidated many of his previous tariffs. Vietnam previously had the third-largest trade surplus with the U.S., but has also faced high tariff rates, according to Reuters, South China Morning Post, and Channel News Asia.