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These associations stated that from 2010-2020, China and the EU have benefited twice as much as the US from tariff reductions. The Regional Comprehensive Economic Partnership (RCEP) went into effect last year, five years after the administration of former President Donald Trump pulled the US out of the Trans-Pacific Partnership. The associations argue that this has helped China replace the US as the EU's largest trading partner. Vpower/Vblink, Diplomatic relations between Vietnam and Korea have made remarkable progress and are currently in a good stage of development. Korea has become a comprehensive strategic partner of Vietnam in all fields, especially economy, trade and investment. This is also a favorable condition for Samsung and Korean businesses to continue to expand investment in Vietnam in the coming time.
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