Vietnam signs nuclear power agreement as it seeks to rebalance US trade
US nuclear power station builder Westinghouse has signed an agreement with Vietnam's biggest energy firm, Hanoi said on Tuesday as it seeks to head off stiff tariffs threatened by the Trump administration.
Hanoi and Washington are engaged in a second round of trade talks after US President Donald Trump threatened a 46 percent levy on Vietnamese goods as part of his global tariff blitz, the industry and trade ministry said in a statement.
Vietnam has the third-biggest trade surplus with the United States of any country after China and Mexico and is anxious to address the trade imbalance to head off the tariff threat.
State-owned Vietnam National Industry and Energy Group (
PetroVietnam
) signed a memorandum of understanding with US company
Westinghouse Electric
on nuclear power development, according to a statement by the ministry.
The agreement is focused on energy infrastructure investment models, technology transfer and human resource training, it said.
Nguyen Hong Dien, Vietnam's industry and trade minister, said at a meeting with Westinghouse officials that energy development cooperation would be "an important driving force contributing to balancing bilateral trade between Vietnam and the United States".
The ministry quoted Westinghouse corporate affairs executive vice president Margaret Cosentino as saying the company expressed strong support for Vietnam's plan, while emphasising the importance of long-term
energy cooperation
.
The Vietnamese team had also entered the second round of trade negotiations on Tuesday, it said.
Both sides "spent time discussing the overall approach to resolve fundamental issues of mutual concern", the statement said.
Vietnam wants to restart nuclear power plans to meet its rapidly expanding energy needs and signed an agreement in January with Russia linked to the Ninh Thuan nuclear power project.
The project, which involves two plants in central Ninh Thuan province with a combined capacity of 4,000 megawatts, was originally to be developed with assistance from Rosatom and the Japanese consortium JINED before plans were scrapped in 2016.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
24 minutes ago
- Time of India
'Those who spoke bravely are all dead': Donald Trump says he gave Iran 60-day ultimatum; warns 'it will only get worse' as Israel holds lethal US weapons
A major flashpoint in the Middle East erupted into open military confrontation overnight, with Israel launching its most expansive airstrikes on Iran in decades, targeting the country's military command and nuclear infrastructure. In a dramatic twist, US President Donald Trump claimed credit for setting the stage, citing a 60-day ultimatum he says he gave Iran, even as his own officials denied direct American involvement in the operation. 'Today is Day 61': Trump ties himself to Israeli strikes Despite earlier statements by senior Trump administration figures, including secretary of state Marco Rubio , distancing the US from the Israeli attack, Trump took to Truth Social on Friday to suggest the strikes followed a countdown he had initiated. "Two months ago I gave Iran a 60-day ultimatum to 'make a deal,'" Trump wrote. "Today is day 61. I told them what to do, but they just couldn't get there. Now they have, perhaps, a second chance!" In another lengthy post, Trump described warning Iran in "the strongest of words" and claimed Iranian commanders "didn't know what was about to happen. They are all DEAD now, and it will only get worse!" He added, "There has already been great death and destruction, but there is still time to make this slaughter... by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo come to an end. Iran must make a deal, before there is nothing left." Israel's Operation Rising Lion Early Friday, Israeli fighter jets and drones struck key Iranian military and nuclear facilities in what Israeli PM Benjamin Netanyahu dubbed "Operation Rising Lion." The strikes killed six top nuclear scientists and several senior military commanders. Israeli officials declared the operation a necessary pre-emptive strike to dismantle Iran's weapons capabilities. "This operation will continue for as many days as it takes," Netanyahu said in a video message, warning of further action against the Iranian regime. Iran retaliates Within hours, Iran responded with a heavy barrage of ballistic missiles aimed at Israeli cities including Tel Aviv and Jerusalem. Explosions echoed across central Israel into early Saturday as missile defense systems were activated and civilians were urged to take shelter. The Islamic Revolutionary Guard Corps (IRGC) said it targeted military airbases and weapons production centers that were 'sources of the criminal aggression.' A senior Iranian official told CNN, 'Everyone will feel it,' referencing further possible retaliation and threats to strike regional bases of any nation that aids Israel. Trump walks a fine line While Trump openly praised the Israeli operation—calling it "excellent" in remarks to ABC News—he continued to insist the US played no active military role. "We gave them a chance, and they didn't take it. They got hit—very hard. And there's more to come. A lot more," he told to ABC News. Still, the mixed signals out of Washington have raised eyebrows. Just a day earlier, Trump had called for peaceful diplomatic resolution with Iran.
India Today
28 minutes ago
- India Today
We knew everything, still hopes for nuclear deal: Trump on Israel's Iran strikes
US President Donald Trump confirmed on Friday that his administration had advance knowledge of Israel's strikes on Iran, calling the raids 'excellent' and 'very successful' while insisting that it's still 'not too late' for Tehran to return to the negotiating table on its nuclear program.'We knew everything,' Trump told Reuters in a phone interview, referring to Israel's air campaign that targeted key Iranian nuclear and military facilities. 'I tried to save Iran humiliation and death. I tried to save them very hard because I would have loved to have seen a deal worked out.'advertisementDespite months of urging Israeli Prime Minister Benjamin Netanyahu to delay an attack to allow time for diplomacy, Trump expressed full support for Israel's decision to act. 'We've been very close to Israel. We're their number one ally by far,' the president said, emphasizing Washington's backing while also appearing unfazed by the risk of wider war. 'We'll see what happens,' he added when asked about the potential for regional Israeli fighter jets bombed Iran's Natanz nuclear complex, ballistic missile factories, and military headquarters in the largest Israeli air operation in recent history, Trump was quick to endorse the outcome. The offensive, named Operation Rising Lion, drew both praise and concern globally.'They can still work out a deal, however, it's not too late,' Trump reiterated, striking a diplomatic tone even as missiles lit up skies over Jerusalem and Tel Aviv in Iran's retaliatory Friday, two senior US officials confirmed that American forces helped intercept Iranian missiles aimed at Israeli growing fears of a broader Middle East war, Trump dismissed the notion that Israel's actions had destabilized the region. Instead, he emphasized strength and deterrence. 'We support Israel. Period,' one White House official said.(With inputs from Reuters)Tune InMust Watch
Time of India
39 minutes ago
- Time of India
Iran strikes back 2nd time: Tehran responds to Israel's Operation Rising Lion; fires barrage of missiles
Image credit: AP Iran struck back at Israel with a second wave of missiles on Saturday in retaliation to the latter's Operation Rising Lion that killed over 78 people and left 320 injured, according to Iran's UN ambassador. In a stark warning to Israel, Iranian military shared a video of the strikes saying, "When the last sword strikes, we'll see who remains." Iran's supreme leader Ayatollah Ali Khamenei, in a recorded address to the nation, said, "Do not assume that they attacked and it's finished. No, they initiated the actions and began the conflict. We will not permit them to evade consequences for this significant wrongdoing they have perpetrated". Israel's emergency medical services reported that 34 individuals were injured in the missile barrage targeting the Tel Aviv area. How it all started? The conflict was sparked by what has been described as Israel's largest military operation in history against Iran. Israeli warplanes and drones on Thursday night—some allegedly pre-positioned within Iranian territory—carried out a massive, coordinated assault deep inside the country. The attacks targeted critical sites, including components of Iran's nuclear program, ballistic missile facilities, and military command centers. Several high-ranking Iranian military officials and nuclear scientists were reportedly killed in the strike. In retaliation, Iran on Friday night launched a barrage of ballistic missiles at central Tel Aviv. How world leaders reacted? US President Donald Trump urged Iran to 'make a deal' saying, "Two months ago I gave Iran a 60 day ultimatum to 'make a deal.' They should have done it! Today is day 61. I told them what to do, but they just couldn't get there. Now they have, perhaps, a second chance!" Meanwhile, Prime minister Narendra Modi called for restoration of peace in the region saying, "Received a phone call from PM @netanyahu of Israel. He briefed me on the evolving situation. I shared India's concerns and emphasized the need for early restoration of peace and stability in the region." In a pointed response, Iran rejected the call for restraint saying, "If you were silent during two years of Palestinian massacres and last night's attack on Iran, don't call for restraint now. Stay quiet."
