Donald Trump Jr., the eldest son of the US president, is set to visit Budapest this Friday, April 25, as part of a regional tour aimed at deepening the Trump family's commercial footprint in Central and Eastern Europe.

The Trump Organization executive vice president will attend a closed-door business forum in the Hungarian capital, where he is expected to meet with local business leaders, including Gellert Jaszai, chairman of Budapest-listed ICT 4iG. The visit forms part of the "Trump Business Vision 2025" roadshow, which sources told Bloomberg is focused on scouting investment opportunities in the region.

Trump Jr.'s itinerary also includes stops in Serbia, Romania and Bulgaria, and meetings with right-wing political figures are reportedly on the agenda, though he holds no official government position. His Budapest appearance, organised by Net Media, publisher of financial website Portfolio.hu, will include a keynote speech at a fully booked, invitation-only event. The event will be held at Dorothea, a luxury hotel in the heart of the city, owned by Viktor Orban's son-in-law, Istvan Tiborcz.

The visit comes five months after Jaszai travelled to the US alongside Hungarian prime minister Viktor Orban to meet with Elon Musk at Mar-a-Lago. Discussions reportedly touched on Hungarian space tech initiatives and broader tech cooperation, as 4iG has stepped up its effort to expand in this business. 4iG shares have surged since the December meeting. The stock is trading above HUF1,800, up 129% in the last five months.

4iG announced earlier this month that former US diplomat Richard Grenell, a Trump ally, became an advisor of the group.

US charge d'affaires in Budapest Robert Palladino in his first public appearance described the coming period in bilateral ties as a potential "golden age" built on shared values, pragmatic diplomacy and mutual economic and security interests. Referring to tensions under previous ambassador David Pressman, Palladino said a new chapter in bilateral relations was now underway, one "free from activism".

Hungarian government officials have described the new cooperation between the countries as the start of a new golden age. In a recent interview, Hungarian Prime Minister Viktor Orban said a bilateral economic agreement with the US could be reached within six months to mitigate the impact of the tariffs.

He confirmed talks are under way aimed at securing a broader trade arrangement that would soften the blow. "The tariffs will be negative for us, but we are negotiating other economic agreements to offset them," he added. Hungary is also seeking to attract US investments.

Hungary has formally requested the resumption of negotiations on a new double taxation agreement with the United States, but Washington is unlikely to prioritise the issue in the near term, Hungarian Foreign Minister Peter Szijjarto said after talks with Treasury Secretary Scott Bessent in February.

The previous tax agreement was unilaterally terminated by Washington in 2022 amid deteriorating bilateral ties under the Biden administration. A new treaty is seen as a priority by Budapest to attract US businesses.

Speaking at the meeting of the US-Hungary Business Council, Szijjarto also revealed that American companies operating in Hungary are planning to expand their workforce by several thousand in the coming months.