President Nixon announces that Henry Kissinger and Le Duc Tho, the chief North Vietnamese negotiator, have initialled a peace agreement in Paris "to end the war and bring peace with honor in Vietnam and Southeast Asia."
Kissinger and Tho had been conducting secret negotiations since 1969. After the South Vietnamese had blunted the massive North Vietnamese invasion launched in the spring of 1972, Kissinger and the North Vietnamese had finally made some progress on reaching a negotiated end to the war. However, a recalcitrant South Vietnamese President Nguyen Van Thieu had inserted several demands into to the negotiations that caused the North Vietnamese negotiators to walk out of the talks with Kissinger on December 13.
President Nixon issued an ultimatum to Hanoi to send its representatives back to the conference table within 72 hours "or else." The North Vietnamese rejected Nixon's demand and the president ordered Operation Linebacker II, a full-scale air campaign against the Hanoi area. This operation was the most concentrated air offensive of the war. During the 11 days of the attack, 700 B-52 sorties and more than 1,000 fighter-bomber sorties dropped roughly 20,000 tons of bombs, mostly over the densely populated area between Hanoi and Haiphong. On December 28, after 11 days of intensive bombing, the North Vietnamese agreed to return to the talks. When the negotiators met again in early January, they quickly worked out a settlement.
Under the terms of the agreement, which became known as the Paris Peace Accords, a cease-fire would begin at 8 a.m., January 28, Saigon time (7 p.m., January 27, Eastern Standard Time). In addition, all prisoners of war were to be released within 60 days and in turn, all U.S. and other foreign troops would be withdrawn from Vietnam within 60 days. With respect to the political situation in South Vietnam, the Accords called for a National Council of Reconciliation and Concord, with representatives from both South Vietnamese sides (Saigon and the National Liberation Front) to oversee negotiations and organize elections for a new government.
The actual document was entitled "An Agreement Ending the War and Restoring Peace in Vietnam" and it was formally signed on January 27.