President Joe Biden met with Vietnamese President To Lam in New York to strengthen relations with Vietnam and counter its ties with China and Russia. They discussed accelerating their strategic partnership, making investments in semiconductors and supply chains, and collaborating on cybersecurity. Lam emphasized Vietnam’s commitment to independence, self-reliance, and diversification in foreign policy.
During his visit to the U.S., Lam also met with representatives of U.S. companies, including Meta, to expand investments in Vietnam. He requested support from the business leaders to have Washington remove Vietnam from the list of non-market economies and lift trade restrictions. The leaders also discussed cooperation on semiconductor supply chains.
The meeting between Biden and Lam was seen as crucial for Lam to solidify power after becoming Vietnam’s top leader. It highlighted Vietnam’s balanced position between major powers, evidenced by Lam’s recent visits to China and Russia. Vietnam has been lobbying to be removed from the non-market economy label, citing economic reforms, but some argue it is being used as a hub by Chinese firms to bypass U.S. import restrictions.
Overall, the meeting between Biden and Lam focused on strengthening economic ties, addressing regional challenges, and supporting Vietnam’s development while maintaining a strategic partnership with the U.S.
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