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The Trump Organization is preparing to release an ethics policy that will place some restrictions on deals involving foreign entities. However, it is unlikely that the policy will be as strict as the limitations the organization agreed to implement eight years ago.
Written by Eric Lipton, Ben Protess, and David Yaffe-Bellany.
For almost ten years, Eric Lipton and Ben Protess have been reporting on the Trump family business. David Yaffe-Bellany specializes in covering the cryptocurrency industry.
Next week, Eric Trump will be speaking at a cryptocurrency conference in Abu Dhabi. He will be part of a group of speakers who are excited about the current success of Bitcoin. His appearance at the conference will also serve as a way to 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 launching new projects. A New York Times investigation into his financial records and interviews with those familiar with his finances revealed this. Unlike his first term, the Trump Organization plans to release a less restrictive ethics plan that will not hinder its growth significantly.
With the inauguration nearing, Eric Trump, the second son of Mr. Trump and the unofficial head of the company, is anticipated to avoid making deals directly with foreign governments. However, he does not intend to bring back the commitment the company made eight years ago to refrain from all other foreign deals while his father is in the White House.
If the guardrail put in place by the Trump Organization in 2017 were not there, the company could potentially benefit financially from business deals in countries that are important to American foreign policy. Before the election, Eric Trump made real estate deals in Vietnam, Saudi Arabia, and the United Arab Emirates, and has also expressed interest in starting new hotel projects in Israel and various other countries in the Middle East, Latin America, and Asia.
The Trump family is expanding their connections with foreign countries beyond their real estate ventures.
A new cryptocurrency platform called World Liberty Financial, in which the Trump family has played a role in creating, has recently secured a substantial investment from a Chinese entrepreneur. This investment has the potential to earn the family approximately $22 million. Additionally, the president-elect’s social media company, which is publicly traded and is his primary source of wealth, is open to foreign investment.
Two new business projects, both of which will be supervised by government regulators chosen by the president, highlight the increased complexity of conflicts of interest resulting from the recent growth of the company during Mr. Trump’s first term. Similar to the previous administration, the Trump Organization will have more freedom to engage in new business agreements during the second term, potentially creating confusion between the president’s role and the company’s activities.
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