Eric Trump, the son of the U.S. president, is expected to hold discussions in Vietnam this week to discuss the proposed new Trump Tower, just as Southeast Asian countries are anxious to avoid avoiding U.S. trade tariffs.
Vietnam's official news agency reported on Monday that the Trump organization is considering expanding investment in Vietnam by building towers at the southern financial center of Ho Chi Minh City.
Eric Trump is expected to discuss with city officials on Thursday on possible locations and other details of the tower project, the agency said.
President Donald Trump's son runs the Trump Organization, but some analysts and business executives say the company's growing interest in Vietnam may be good for the country as it tries to reach tariffs with Washington.
Eric Trump's visit will come days after Vietnam approved a $1.5 billion Trump Organization project that includes golf courses, hotels and luxury homes. The project is a joint venture with Vietnamese company Kinhbac City Development Holding, and construction is expected to begin this year and be completed in 2029.
The U.S. president hit Vietnam with a "countdown" tariff rate of 46% in April, although he later granted 90-day probation to the country and other trading partners.
The 46% rate will bring a huge blow to Vietnam, which has become a manufacturing force in recent years as production shifts from China. Now, it is a key link in the global supply chain and sees Apple, Samsung and Nike as major investors.
Vietnam's economy is one of the fastest growing economies in the world, and depends largely on exports, with one third of which flowing to the United States alone.
Now, Hanoi faces tough talks with Washington to agree that Trump stops imposing tariffs that most people end in July.
Trump administration officials have repeatedly criticized Vietnam's large-scale trade surplus with the United States, the third largest trade after China and Mexico. They also accused Vietnam of acting as a channel for Chinese companies, hoping to ship to the United States through a third country to avoid tariffs.
Vietnam's Trade and Industry Secretary Nguyen Hong Dien met with U.S. Trade Representative Jamieson Greer in South Korea last week.
Hanoi has pledged to buy more U.S. goods, including Boeing aircraft and agricultural products, to eliminate non-advocacy barriers and to exacerbate crackdown on U.S. exports from other countries.
The city of Jimbak did not respond to a request for comment. A Trump Organization spokesman did not immediately respond to a request for comment.
Other reports by Alex Rogers, Washington