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Vietnam Turns to Its Neighbors After Trump Kills Trade Deal

  • Nation to exploit trade deals with South Korea, Japan, Asean
  • U.S. is Vietnam’s largest export market with 22% share
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Vietnam Turns to Neighbors After Trump Abandons TPP

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After years of relying on American consumers, Vietnam is turning to its Asian neighbors after U.S. President Donald Trump dashed hopes for a Pacific trade deal that stood to benefit the export-reliant nation the most.

The end of the Trans-Pacific Partnership “will push us to expand in other markets,” Nguyen Duc Kien, deputy head of the National Assembly Economic Committee, said on Wednesday in a phone interview. “We have a lot of potential to increase exports” to markets in the Association of Southeast Asian Nations, or Asean, and some “regional countries where we have bilateral trade agreements such as South Korea, Japan,” he said.