Vietnam, Under Tariff Pressure, OKs $1.5B Trump Development

News Snapshot:

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 drive 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...