Vietnam and the European Union on Thursday upgraded ties to a comprehensive strategic partnership, Vietnam’s highest diplomatic level, as both recalibrate trade during disruptions to global finance driven by U.S. tariff pressure. For the EU, the deal strengthens access to one of Asia’s fastest-growing manufacturing hubs and supports efforts to diversify supply chains as trade tensions increase. Bilateral trade in the first 11 months of 2025 reached more than $66.8 billion, up 6.6% from a year earlier. The EU is Vietnam’s fourth-largest trading partner, third-largest export market and fifth-largest import source. The two sides signed a free trade agreement in 2020.