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The Trump Organization is preparing to release an ethics policy that will impose some restrictions on deals involving foreign entities, but it is not expected to be as strict as the limitations put in place eight years ago.
Written 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. David Yaffe-Bellany focuses on covering the cryptocurrency sector.
Eric Trump will be speaking at a cryptocurrency conference in Abu Dhabi, alongside other speakers who are excited about the current success of Bitcoin. His appearance at the event will also serve as a way to show that the Trump Organization is ready and eager to engage in business opportunities.
Following Donald J. Trump’s election win, his family business is in a position to take advantage of his presidency by pursuing new opportunities, as reported by the New York Times after reviewing financial records and conducting interviews with individuals familiar with his financial situation. Unlike during his first term, sources indicated that the Trump Organization plans to implement a less restrictive ethics plan that is not expected to have a major impact on its expansion.
With the inauguration coming up, Eric Trump, the second son of Mr. Trump and the unofficial leader of the company, is expected to avoid making deals with foreign governments. However, he does not intend to uphold the promise the company made eight years ago to refrain from all other foreign deals while his father is in the White House.
If the guardrail from the Trump Organization’s 2017 ethics plan is removed, the company could potentially benefit financially from various business ventures in countries important to American foreign policy. Eric Trump has been involved in real estate deals in Vietnam, Saudi Arabia, and the United Arab Emirates leading up to the election, and has also expressed interest in new hotel projects in Israel and other countries in the Middle East, Latin America, and Asia.
The Trump family is expanding their connections internationally outside of their real estate endeavors.
A newly established cryptocurrency platform called World Liberty Financial, which was supported by the Trump family, has recently secured a significant investment from a Chinese entrepreneur. This investment could potentially result in the Trump family earning around $22 million. Additionally, the president-elect’s social media company, which is his main source of wealth, is also willing to accept investments from foreign sources.
The Trump Organization’s recent expansion has led to the creation of new ventures that will be regulated by federal officials chosen by the president. This highlights the increased complexity of conflicts compared to Trump’s first term. Similar to the previous administration, the Trump Organization will have the freedom to engage in new deals in the upcoming term, potentially blurring the boundaries between the presidency and the business.
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