The European Union’s growing trade friction with Vietnam illustrates how global protectionist pressures are reshaping even relationships once seen as mutually beneficial. Since the EU–Vietnam Free Trade Agreement (EVFTA) took effect in 2019, Hanoi has emerged as the bloc’s largest commercial partner in Southeast Asia, with trade volumes reaching nearly €67 billion ($79 billion) in 2024.

Yet the promise of balanced integration has given way to persistent asymmetry. The EU’s trade deficit with Vietnam ballooned to about $50 billion last year, and data from the first half of 2025 suggest that gap is widening further. For Brussels, this trajectory is politically and strategically untenable, particularly at a moment when trade balances are once again shaping diplomacy.

Despite market volatility caused by U.S. President Donald Trump’s protectionist trade policies, foreign investors remain keen on the American energy industry. Executives at the CERAWeek conference this week emphasized the strong appeal of Trump’s regulatory rollbacks, his commitment to fossil fuel production, and the broader “energy dominance” agenda that he has pushed since taking office.

Trump’s administration has prioritized energy independence and fossil fuel expansion, declaring a national energy emergency on his first day in office and withdrawing the U.S. from the Paris climate agreement. He has consistently urged oil and gas companies to ramp up production, while also promising to keep consumer fuel prices low—a balancing act that has drawn mixed reactions from the industry. While low oil prices generally hurt profit margins for energy producers, companies have welcomed reduced regulatory burdens and expedited permitting.

This year’s “Choose France” event, an annual summit aimed at attracting foreign investment to France, is expected to yield 15 billion euros ($16.2 billion) in foreign investments, according to the French presidency on Monday. This marks an increase from last year’s summit, which brought in 13 billion euros worth…