meta_pixel
Tapesearch Logo
Log in
The Indicator from Planet Money

Mixing family business with US trade policy in Vietnam

The Indicator from Planet Money

NPR

Business

4.79.2K Ratings

🗓️ 17 June 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

Last month, Eric Trump, executive vice president at The Trump Organization, attended a ceremony in Vietnam to break ground on a $1.5 billion residential development and golf course. This comes as Vietnam's government is in trade talks with the administration of Eric's father, President Donald Trump.

Today on the show, we look at how the Trump family's business projects in Vietnam are raising red flags when it comes to government ethics.

Related episodes:
How Trump is making coin from $TRUMP coin

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Fact-checking by
Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Learn more about sponsor message choices: podcastchoices.com/adchoices

NPR Privacy Policy

Transcript

Click on a timestamp to play from that location

0:00.0

NPR. This is the indicator from Planet Money. I'm Waylon Wong. And I'm Adrian Ma. Last month,

0:16.8

President Trump's son Eric paid a visit to Vietnam. He's an executive vice president at the family

0:21.7

business, the Trump organization. And Eric was in town to break ground on a $1.5 billion project.

0:28.7

The company's building a luxury residential development and golf course in the Hungyan province,

0:33.2

which is right outside Hanoi. This groundbreaking ceremony was important enough that Vietnamese Prime Minister Fa Minchin attended.

0:41.1

And he suggested in his public remarks that this golf course project will help smooth Vietnam-U.S. relations.

0:47.8

The two countries are in trade talks right now.

0:50.4

And Vietnam is hoping to avoid a sky-high 46% tariff rate.

0:55.2

But this potential intermingling of official trade policy with Trump family business raises red flags when it comes to government ethics.

1:02.2

Today on the show, we look at those flags and how Vietnam's difficult position in the trade war may have pushed the government to fast-track a deal.

1:22.3

Music may have pushed the government to fast-track a deal. Back in 2017, in the early months of the first Trump administration, Jessica

1:26.7

Tillapman was invited by a U.S. federal agency to lead a training session for foreign government officials.

1:32.9

Jessica is an associate dean at the George Washington University Law School, and she was there to teach these foreign leaders how they could improve their ethics and anti-corruption rules back home.

1:43.3

And they asked me about the ethics rules,

1:46.0

and I said, well, you know, they are very strong in the United States, but they don't apply to our

1:51.6

president or vice president. And there was laughter in the room from a country that has very

1:58.4

significant corruption issues. And it was not laughing with us. It was a laughing

2:02.3

laughing at us. Just roaring with laughter. And you're just standing in front of your PowerPoint,

2:07.2

like, anyway. Look at how strong our ethics rules. You should adopt something similar.

2:13.8

That's a little bit awkward. But here is what Jessica was explaining to those foreign officials.

2:20.3

In the U.S., the majority of executive branch employees are covered by ethics rules.

2:24.5

These rules are less about violating the law than they are about appearances,

...

Transcript will be available on the free plan in 15 days. Upgrade to see the full transcript now.

Disclaimer: The podcast and artwork embedded on this page are from NPR, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of NPR and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.