Emergency pod alert! Last Thursday, the federal court blocked Trump’s tariffs. This bombshell changes everyone’s trade talks, including Vietnam. But in our latest New Asia Podcast, we investigate how, irrespective of the ruling, General Secretary Tô Lâm and the Politburo are undertaking to transform Vietnam into a "prosperous, well-educated, healthy and independent country." We explain why we believe Trump’s tariff proposals may have actually helped stimulate reform. We also explore misconceptions about Tô Lâm and his push for government accountability, private sector growth, and infrastructure spending, de-emphasizing Vietnam's SOE sector, comparisons between Vietnam and China, DOGE, and how Vietnam will navigate diplomatic relations, manufacturing and exports going forward. CHAPTERS: 00:00 - Intro 01:56 - Tariff bombshell 03:57 - Government action 06:40 - Tô Lâm institutes change 08:45 - Vietnam is not the same as China 11:32 - Learning without dominating 12:42 - Introducing responsibility 16:47 - Trump family sets a precedent 18:16 - Slimming the government 21:31 - A contrast with DOGE 25:13 - Potential digitization 27:29 - Improving trade relationships 28:14 - Time to invest To learn more about Muddy Waters Asia, please visit ⁠MuddyWatersAsia.com and follow us on ⁠X at @MuddyWatersAsia⁠.