Eric Trump attended a ceremony in Vietnam to herald the construction of a new $1.5 billion luxury resort from the Trump Organization, as the country desperately seeks to avoid the potentially crippling tariffs proposed by his father.
President Donald Trump’s second eldest son took part in a ground-breaking ceremony Wednesday in Hung Yen province, just outside Hanoi, to launch the major real estate project. The development will include golf courses, five-star hotels, and a luxury residential complex, according to Bloomberg.
The Vietnamese complex is reported to cover around 2,500 acres, and is due for completion by 2029. The development is a partnership between the Trump Organization and several of its local partners and investors.
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Eric Trump, an executive vice president at the Trump Organization, visited Vietnam as the country engages in talks to sidestep President Trump’s devastating proposed tariffs on Vietnamese goods.
On April 2, which Trump dubbed “Liberation Day”, the president announced a series of “reciprocal” tariffs for countries across the world.
This included a major 46 percent rate on Vietnamese imports—among the highest rates of all of Trump’s tariff proposals—which were originally scheduled to take effect in July.
However, the rate for Vietnam and dozens of other countries has since been reduced to 10 percent for a 90-day period, with the U.S. and Vietnam now trying to thrash out a new trade agreement.
Vietnam has made multiple vows to try and appease the U.S. as part of the negotiations, including promising to crack down on counterfeiting and trade fraud, and purchasing more American goods.
Vietnamese state media reported that the Trump administration told the country on Friday that the current trade surplus with the U.S. is “unsustainable.”
Elsewhere, Eric Trump and other Trump Organization representatives are also scheduled to meet with officials in Ho Chi Minh City on Thursday to discuss the potential construction of a skyscraper in the city’s financial district, Reuters reported.
In October 2024, the Trump Organization announced a partnership with Hung Yen Hospitality, a subsidiary of Vietnamese real estate firm Kinhbac City, to develop multiple “unparalleled amenities” across Vietnam.
“We are incredibly excited to enter this dynamic market,” Eric Trump said in a statement. “Vietnam has tremendous potential for luxurious hospitality and entertainment, and we are beyond thrilled to work with this amazing family to redefine luxury in the region.”
