South Korea and Vietnam said on Wednesday they agreed to cooperate closely, after the announcement of U.S. tariffs that pose a major challenge for both economies and for companies like Samsung Electronics with big investments in Vietnam.

South Korea's industry minister Ahn Duk-geun is visiting Vietnam as the two countries scramble to negotiate a reduction of threatened U.S. tariffs of 25% and 46%, respectively, that would otherwise apply in July after a global moratorium expires.

Chinese leader pledges to build strong bilateral relations with Hanoi, rejects protectionism, as he begins Asia tour aimed at projecting Beijing as a stable partner.

Xi Jinping has urged Vietnam to resist “unilateral bullying” and uphold free and open trade, as he begins a high-stakes diplomatic tour of the region’s major export-reliant economies in a bid to position his country as a stable partner in contrast to the United States.

China's President Xi Jinping on Monday called for stronger ties with Vietnam on trade and supply chains amid disruptions caused by U.S. tariffs, as he kicked off a three-nation trip to Southeast Asia in the Vietnamese capital of Hanoi.

During Trump's first term, tariffs on China were a big win for Vietnam, especially in cities like Haiphong. Now the country's future isn't so clear.