Transition to the Trump
Transition of power
Transition of power
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The Trump Organization is working on an ethics policy that will include some restrictions on deals, but will not completely ban foreign transactions. This policy is expected to have less limitations than the one put in place eight years ago.
Authored by Eric Lipton, Ben Protess, and David Yaffe-Bellany.
Eric Lipton and Ben Protess have been reporting on the Trump family business for almost ten years, while David Yaffe-Bellany focuses on writing about the cryptocurrency industry.
Eric Trump will be speaking at a cryptocurrency conference in Abu Dhabi next week, along with other speakers who are excited about the current success of Bitcoin. His appearance will also show that the Trump Organization is ready to do business.
After Donald J. Trump won the election, his family business is ready to take advantage of his presidency by starting new projects, as reported by the New York Times after examining financial records and speaking with sources familiar with his finances. Unlike during his first term, sources say the Trump Organization plans to implement a less comprehensive ethics plan that may not restrict its expansion.
With the inauguration nearing, Eric Trump, the second son of Mr. Trump and the unofficial leader of the company, is likely to avoid making deals directly with foreign governments. However, he does not intend to fulfill the company’s previous commitment from eight years ago to refrain from any other foreign deals during his father’s presidency.
If the guardrail set in place by the Trump Organization in 2017 were removed, the company could potentially benefit financially from various business dealings in countries that are important to American foreign policy. Before the Election Day, Eric Trump engaged in real estate transactions in Vietnam, Saudi Arabia, and the United Arab Emirates. He also expressed interest in developing new hotel projects in Israel and other countries in the Middle East, Latin America, and Asia.
The Trump family is expanding their connections internationally in addition to their work in the real estate industry.
A recently established cryptocurrency platform called World Liberty Financial, which had involvement from the Trump family, received a significant investment from a Chinese entrepreneur. This deal has the potential to result in the family earning around $22 million. Additionally, the president-elect’s social media company, a major source of his wealth, is accepting foreign investments.
The Trump Organization’s recent expansion has led to the creation of new ventures that will be monitored by federal regulators chosen by the president. This development highlights the increased complexity of conflicts of interest compared to Trump’s first term. Similar to the previous administration, the Trump Organization will have more freedom to pursue new deals in the second term, potentially leading to further blurred lines between the presidency and the business.
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