President Donald Trump’s company applied for five new trademarks in Vietnam last November, according to a CREW analysis of international trademark databases. These appear to be the first foreign trademarks that Trump’s company has applied for in his second term. DTTM Operations LLC, the company that manages trademarks on behalf of the Trump Organization, applied for the trademarks on November 27, 2025, and they were posted two months later.

The trademarks would cover Trump International Hung Yen, Trump International Vietnam, Trump Residences Vietnam and Trump International Golf Club Vietnam in several classes of goods and services, including real estate services, entertainment, food and drink, sporting equipment, clothing and much more.

This is just the latest conflict of interest between Trump and Vietnam. The Trump Organization is currently developing a Trump-branded project in Vietnam in collaboration with Hung Yen Hospitality Group. The $1.5 billion development is set to include a golf course, resort and residential estate. In May, Trump Organization Executive Vice President Eric Trump participated in a groundbreaking ceremony for the project with Vietnamese Prime Minister Phạm Minh Chính, who had previously committed to expediting the project. Earlier this year, CREW reported that a local government in Vietnam paid about $2 million to relocate residents to build the development. 

During Trump’s first term, his company received 72 trademarks from 11 foreign governments, including China, Argentina and the European Union, despite making a promise to abstain from new foreign deals as president. Trump’s foreign financial interests, including trademarks, are massive conflicts for his administration, and can have foreign policy consequences. During Trump’s first term, his administration appeared to hold off on tariffs while Argentina approved trademarks that Trump applied for in the country. Last year, the Trump administration reached an agreement with Vietnam to lower tariffs on goods imported to the U.S. Trump had originally imposed a 46 percent tariff on Vietnam, the fifth highest amount announced on his “Liberation Day.” Trump’s company applied for trademarks just months after lower rates were reached. While Americans have wondered how Trump administration tariffs will affect the price of groceries and other everyday items, Trump is enriching himself by seeking actions to benefit his bottom line from countries like Vietnam that are seeking policy outcomes from his administration.

Granting valuable trademarks to Trump’s companies is just one way that foreign governments can curry favor with Trump and his administration by taking actions that benefit his businesses. In just the first year of Trump’s second term, 55 foreign officials from 21 countries visited Trump properties, and eight foreign governments hosted or sponsored events. Income from Trump’s foreign properties is also set to explode during his second term, as Trump has lucrative business deals with companies around the world. The Vietnam development is only one of 24 Trump-branded projects being built around the world, creating huge conflicts of interest for Trump.

Read More in Investigations