Donald Trump's family firm is building luxury residential golf courses worth $1.5 billion. Why is this called 'envy of Asia and World'?
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US President Donald Trump 's son Eric and Vietnam's Prime Minister Minh Chinh held a groundbreaking ceremony on Wednesday for a $1.5 billion luxury residential development with three 18-hole golf courses outside Hanoi.The U.S. president's Trump Organization family business and its local partners received approval for the project last week from the Communist authorities in Vietnam, which is separately negotiating over tariffs with Washington.Projects to be developed in Vietnam will be "the envy of all of Asia and of the entire world", said Eric Trump, who is a senior vice president of the Trump Organization. He praised its Vietnamese partner, real estate firm Kinhbac City, and promised to visit the country "very often".Prime Minister Pham Minh Chinh said Eric Trump's visit "motivated us to expedite this project", and urged local authorities to provide maximum support and facilitate the completion of the 990-hectare (2,446 acre) resort within the planned timeframe by the end of 2027.Vietnam was meant to be hit with some of the highest U.S. tariff rates of any country at 46 per cent when President Trump announced his "Liberation Day" plan for global tariffs on April 2. Trump has since postponed the tariffs for 90 days.Vietnamese trade negotiators are in Washington to discuss compromises. Offers made include lowering tariffs and non-tariff barriers, intensifying the fight against trade frauds and counterfeiting, and providing favourable conditions to Starlink, owned by Trump's close ally Elon Musk, to roll out satellite internet services in Vietnam.Organisers said the golf project in Hung Yen, a few kilometres south of Hanoi along the Red River, swiftly obtained approvals from local authorities.A1. US President Donald Trump's son is Eric Trump.A2. Vietnam was meant to be hit with some of the highest U.S. tariff rates of any country at 46 per cent when President Trump announced his "Liberation Day" plan for global tariffs on April 2. Trump has since postponed the tariffs for 90 days.
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