So here's a thing that happened over the weekend: former President Donald Trump, in a meeting with Vietnam's top official, basically said, "You're off the list." The list in question is one that restricts countries from getting their hands on advanced U.S. technologies. Vietnam's government announced Saturday that Trump made this promise to Communist Party chief To Lam.
Think of it like getting a VIP pass after being stuck in the general admission line. For Vietnam, a major manufacturing hub, this could mean easier access to the high-tech chips, software, and equipment that power modern industry. The two leaders met at the White House on Friday—their first in-person chat—after Lam attended a meeting of Trump's "Board of Peace" in Washington.
According to the official readout, Trump was all for deeper cooperation on the economy, science, and tech. Lam, for his part, pushed for talks to sort out the lingering trade issues between the two countries. Oh, and Trump also said yes to an invitation to visit Vietnam at some point. So, mark your calendars for a future Trump foreign trip, I guess.
This diplomatic chat didn't happen in a vacuum. It came right after a seriously big week for U.S.-Vietnam trade. Vietnamese airlines snapped up 90 airplanes from U.S. aerospace giant Boeing (BA) in a series of deals collectively worth more than $30 billion. That's not just a nice-to-have; it's a massive vote of confidence in American manufacturing and a huge economic win.
The whole U.S.-Vietnam trade relationship has been on quite a journey. Back in April of last year, when Trump announced his "Liberation Day" tariffs, Vietnam had the third-largest trade surplus with the U.S., trailing only China and Mexico. Total goods traded between the two hit $123.5 billion in 2024, according to the numbers.
But by July, things had shifted. Vietnam managed to negotiate its tariffs with Washington down to a minimum of 20%, a big drop from the over 40% it was facing. The trade-off? Opening its market more to U.S. products, including American cars.
And if you're wondering about the broader trade policy landscape, well, it's been a busy few days. Just on Friday, the U.S. Supreme Court struck down Trump's sweeping "reciprocal" import duties. That was a major blow to a key piece of his economic agenda. In response, Trump retaliated by announcing a new 10% tariff on all countries. So, promising Vietnam a tech pass is one move on a very crowded and volatile chessboard.
In short: a handshake at the White House, a promise to unlock tech, and $30 billion in plane deals. It's a classic mix of diplomacy and dollars, with the usual dose of Trump-era trade drama swirling in the background.
