Eric Trump and Vietnam's PM break ground on billion-dollar resort amid tariff talks

Vietnam's prime minister and Eric Trump, the son of former U.S. President Donald Trump, recently broke ground on a significant luxury development project worth $1.5 billion near Hanoi. This project, approved by Vietnam's Communist authorities, includes three 18-hole golf courses and is set to be completed by 2027. The location, a 990-hectare property along the Red River, is envisioned as a premier destination for golf and luxury living in Asia. Eric Trump has expressed confidence in the Vietnamese market, stating its growth potential and commitment to frequent visits to support this initiative. The development, spearheaded by the Trump Organization in partnership with Vietnamese real estate firm Kinhbac City, emphasizes creating high-end amenities such as a five-star hotel, luxury villas, and championship-style golf courses. Eric Trump mentioned that the collaboration aims to set a new standard in hospitality and living in the region. Vietnam's prime minister urged local authorities to support and expedite the project's progress, reflecting the government's commitment to fostering foreign investment and economic collaboration. Currently, Vietnam is in negotiations with the United States regarding trade tariffs, which may impact the dynamics of foreign investments in the country. Amidst the looming threat of potential high tariffs of 46% as part of President Trump's global tariff plan, the timing of this project could signify a strategic move to facilitate U.S.-Vietnam relations. Trade discussions focus on various compacts aimed at lowering tariffs, enhancing trade conditions, and addressing issues related to counterfeiting and trade frauds. Local citizens have shown mixed reactions to the groundbreaking, demonstrating support for the project's potential benefits while voicing concerns over fair land compensation. As highlighted by a local farmer, people are hopeful for reasonable compensation when land is acquired for the development. The project's ability to address the concerns of local communities will be crucial in sustaining long-term support for such high-profile international dealings. Ultimately, the groundbreaking ceremony represents a significant step in Vietnam's ambition to emerge as a leading destination for luxury living and tourism in Asia.