As Japanese Prime Minister Shigeru Ishiba traveled to Hanoi on Monday in an attempt to strengthen relations following US President Donald Trump’s tariff assault, the two countries agreed to expand their collaboration on semiconductors and renewable energy.
Chinese President Xi Jinping’s Southeast Asia tour, during which he attempted to portray Beijing as a stable alternative to the United States, was followed by Ishiba’s visit, which is a part of a four-day journey to the region that also includes the Philippines.
On Monday, Ishiba and Pham Minh Chinh, the prime minister of Vietnam, signed four agreements, including one on bilateral collaboration in the energy transition and another on semiconductor research and development.
Japan agreed to support the training of around 250 Vietnamese doctorate students in the semiconductor industry, according to the two leaders.
Long viewed as a low-cost destination to make clothes, shoes and furniture, Vietnam is now eyeing a rapid climb up the global supply chain and has put computer chips at the heart of its development plans.
Before the trip, Ishiba called Vietnam and the Philippines — along with the rest of Southeast Asia — a “growth centre” that is driving the world economy, but said they and Japanese businesses in the region faced “major impacts” from Trump’s tariffs.
Trump has stopped his reciprocal tariffs of 46 percent and 24 percent on Vietnam and Japan, respectively, but they are still subject to his general 10 percent levy.
“We will support Japanese companies to invest and expand their business in Vietnam and develop human resources in the semiconductor field in Vietnam,” Ishiba said.
