On April 28, 2025, Japanese Prime Minister Shigeru Ishiba met with Vietnamese Prime Minister Pham Minh Chinh in Hanoi to reinforce bilateral relations and address shared concerns over recent U.S. trade policies. Both leaders reaffirmed their commitment to upholding free trade and international trade rules amid escalating global economic uncertainty and the threat of U.S. tariffs.

The United States had imposed "bilateral tariffs" of 46% on Vietnamese goods and 24% on Japanese items, with a general 10% levy on all imports. These duties were paused until July as bilateral talks were underway. Japan and Vietnam, both affected by these tariffs, are engaged in discussions with Washington to mitigate the impact.

During the summit, Japan and Vietnam signed four cooperation agreements covering trade in energy transition products and semiconductor research and development, though specific terms were not disclosed. Vietnam, a significant manufacturing base for Japanese companies like Honda and Panasonic, has received $78 billion in Japanese investment. Vietnam's top leader, To Lam, encouraged further Japanese investment in infrastructure, referencing a proposed $67 billion high-speed railway project between Hanoi and Ho Chi Minh City, though this was not formally discussed during the visit.

The recent summit between Japan and Vietnam underscores the complexities of international trade relations amid shifting U.S. policies. Both nations are taking proactive steps to strengthen their partnership and navigate the challenges posed by external economic pressures.