Donald Trump Jr.: Orban–Trump Trust Lays Foundation for Boosting Economic Relations

The good personal relationship and trust-based connection between Hungarian Prime Minister Viktor Orban and U.S. President Donald Trump can serve as a solid foundation for enhancing economic relations, said Donald Trump Jr., the eldest son of the U.S. president, at a private business forum in Budapest on Friday.

Donald Trump Jr. Fotó: AFP Fotó: ANGELA WEISS

Trump Jr., Executive Vice President of the Trump Organization, was visiting Budapest at the invitation of businessman Zoltan Aczel to participate in the "Trump Business 2025" event organized by Portfolio. In his opening remarks, businessman Akos Janza highlighted that the forum aims to explore business opportunities in the region. Donald Trump Jr. emphasized that he was participating in a business capacity, unlike his previous trip last summer when he was involved with the Trump campaign team. Reflecting on his personal ties to the region, he shared that as a child of a Czech immigrant, he spent weeks in communist countries during his youth, making the region’s transformation especially poignant for him. He recalled that the region was once often looked down upon and treated as a "stepchild" by Western Europe.

Today, however, he noted, when comparing Hungary and other Central and Eastern European countries to Western states, the countries of the region present a far more favorable image.

He attributed this to the pragmatic, citizen-focused governance of the region’s governments. Trump Jr. expressed his delight at returning to Hungary, where he received a warm welcome. Following his keynote speech, he answered questions from business leaders. He remarked that Hungary holds a unique position, serving as a bridge between East and West thanks to its geographical location. He praised the Hungarian people for standing firm in their values, supported by strong leadership, and highlighted their effective workforce and work ethic.

On global issues, he stated that China, rather than Russia, now represents the greatest threat to freedom and democracy.

Addressing the topic of trade disputes with China, Trump Jr. noted that while calls for a firmer stance against China had long existed in the United States, Donald Trump was the first to take decisive action. While acknowledging the potential short-term economic pain, he stressed that perseverance is necessary because China is more dependent on American purchasing power than the reverse.

Regarding Chinese infrastructure investments, he was sharply critical, stating that Chinese entities often arrive with "suitcases full of cash," secure contracts quickly, deliver poor-quality work using their own labor force, and leave behind chaos. He added that 

China has often not acted as an honest partner, and its investments have increased the indebtedness of the recipient countries.

Turning to cryptocurrencies, Trump Jr. highlighted their potential to democratize and make the financial system fairer, as well as to improve accessibility to the financial product. He also noted that greater regulation could attract more investment into the sector. On artificial intelligence, he cautioned that America’s adversaries would not impose the same ethical restrictions as the West, warning that "we cannot allow the bad actors to gain the upper hand" in this crucial area.  

It is in the world’s interest for the United States to remain strong because if it weakens, hostile actors will exploit the situation,

Trump Jr. argued that the United States and its allies must establish new, business-based strategic alliances and adopt a more open approach to partnerships. He highlighted America’s extreme dependency on China and Taiwan in strategic industries such as pharmaceuticals and semiconductor manufacturing. He pointed out that 

it is unrealistic to expect industries critical to national security, like textiles and pharmaceuticals, to immediately return to the United States, but the shift has already begun, with billions of dollars in new investments announced domestically and capital steadily flowing out of China.

As examples, he cited Mexico and Colombia’s willingness to engage in tariff discussions and Apple’s decision to move iPhone production to India, thereby circumventing reliance on China. Returning to the topic of bilateral relations, Trump Jr. noted that the Biden administration has often adopted a hostile stance toward the Orban government due to its patriotic policies and its support for Donald Trump. He emphasized that the United States should also recognize the investment opportunities Hungary and the wider region provide, while underlining that initiatives must come from both sides.

He identified the pharmaceutical and technology sectors as promising areas for cooperation.

Finally, Trump Jr. stressed the importance of trade chambers in mapping opportunities and helping American businesses better understand the Hungarian market.

Cover photo: Donald Trump Jr. (Photo: AFP)