Trump Organization Eyes Skyscraper in Ho Chi Minh City Amid Trade Talks

Trump Organization is considering building a skyscraper in Ho Chi Minh City, Vietnam. According to a government document, the company and its local partner are exploring the possibility of constructing a tower in the commercial hub. This comes as the Trump family's business has recently been given the green light for a separate 1.5 billion dollar golf project in the country. Vietnam, a nation heavily reliant on exports, is currently in negotiations with Washington to avoid punitive trade tariffs.

Local officials in Ho Chi Minh City have been invited to a dinner with Eric Trump, the senior vice president of the Trump Organization, scheduled for Thursday evening at a central hotel. The dinner is part of a series of meetings planned with the Trump Organization's representatives, who are expected to visit a high-end district in the city center to scout potential locations for the proposed Trump Tower. The meetings aim to discuss the project with city leaders and invite local authorities to collaborate with the business delegation.

The Trump Organization has been managed by Donald Trump's children since he won his first presidential term. The document indicates that another meeting is scheduled for later on Monday between Ho Chi Minh City authorities and representatives from the Trump Organization and its Vietnamese partner, Kinhbac City, a real estate developer. The city's website confirmed these meetings but did not provide details about the agenda or the participants.

Neither the Vietnamese Foreign Ministry, the Trump Organization, nor Kinhbac City immediately responded to requests for comment. Given that the skyscraper plan is in its early stages, it remains uncertain whether the Trump Organization will proceed with the project and if the authorities will approve it. The Trump Organization has existing or developing luxury golf projects in multiple countries, from Indonesia to the Middle East.

Vietnam faces a 46% tariff on its exports to the U.S. if it fails to reach an agreement with the White House by July, when the global "reciprocal" tariff suspension period ends. Vietnam has pledged to Washington to avoid these tariffs by reducing tariffs and non-tariff barriers, combating trade fraud and counterfeiting, and providing favorable conditions for Elon Musk's Starlink to launch internet services in the country. The visit by the Trump delegation, which may be subject to changes, was proposed following Vietnam's approval last week of a 1.5 billion dollar plan by the Trump Organization and Kinhbac City to invest in a golf course, hotel, and real estate project in northern Vietnam.

A source familiar with the matter confirmed that Eric Trump will visit Vietnam this week and that the groundbreaking ceremony for the northern Vietnam golf project is scheduled for Wednesday. The source, who requested anonymity as the events are still being organized, did not provide further details. In March, it was reported that the groundbreaking ceremony was planned for May, and the Trump Organization and its local partners were seeking additional projects in the country. While both sides are considering investments worth tens of billions of dollars, it is unclear how the costs and revenues will be shared, and what the terms for using the Trump brand are.