Just before beginning negotiations to avert President Trump's imposition of a 46% tariff, Vietnam has approved a $1.5 billion plan by the Trump Organization to build golf courses, hotels, and other projects there. The US trade deficit with Vietnam hit $123 billion in 2024, partly driven by imports that are assembled in Vietnam using parts from China—a subject of pressure from the Trump administration, Quartz reports. State media reported that the Vietnamese government was told Friday by the US that the trade imbalance is "unsustainable."
The project, to be built with Vietnamese developer Kinhbac City, would be the Trump Organization's largest in East Asia. Plans call for three 18-hole golf courses and a luxury residential complex. It's to span nearly 2,500 acres in northern Vietnam's Khoai Chau district, per the AP, with construction beginning this year and running into 2029. In addition, a Vietnamese government document seen by Reuters shows the Trump Organization and Kinhbac City are looking into building a skyscraper in Ho Chi Minh City.
The document indicates that city officials are invited to "attend a dinner party with Eric Trump, senior vice president of the Trump Organization" and son of the president at a hotel on Thursday. The file says company representatives want to "survey the proposed location of the Trump Tower building and hope to have a working session with the city's leaders about this project." (More Trump Organization stories.)
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