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The Trump Organization is working on an ethics policy that will include some restrictions on deals involving foreign entities, but it is unlikely to be as strict as the limitations imposed 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. Meanwhile, David Yaffe-Bellany focuses on covering news related to the cryptocurrency industry.
Eric Trump will be speaking at a cryptocurrency conference in Abu Dhabi, where he will be among other speakers discussing the positive trends in Bitcoin. This will also be a chance for him to show that the Trump Organization is ready for business opportunities.
Following the election win of Donald J. Trump, his family business is prepared to take advantage of his position as president by launching new business ventures. A review of financial records and interviews with individuals familiar with his finances by the New York Times revealed this. Unlike in his previous term, sources indicated that the Trump Organization plans to implement a less restrictive ethics plan that is not expected to hinder its expansion significantly.
With the upcoming inauguration, Eric Trump, the second son of Mr. Trump and the unofficial leader of the company, is likely to avoid making deals with foreign governments. However, he does not intend to follow the company’s previous promise of avoiding all other foreign deals while his father is in office.
If the guardrail from the Trump Organization’s 2017 ethics plan was removed, the company could potentially benefit financially from various business opportunities in countries that are important to American foreign policy. Prior to Election Day, Eric Trump engaged in real estate transactions in Vietnam, Saudi Arabia, and the United Arab Emirates, and has also expressed interest in developing new hotels in Israel and other countries in the Middle East, Latin America, and Asia.
The Trump family is also expanding their connections with foreign entities outside of their real estate ventures.
A new cryptocurrency platform called World Liberty Financial, which received support from the Trump family, has recently secured a significant investment from a Chinese entrepreneur. This deal has the potential to earn the Trump family around $22 million. Additionally, the president-elect’s social media company, which is his main source of wealth, is also considering foreign investments.
The Trump Organization’s new business endeavors will be monitored by government regulators selected by the president. These ventures highlight 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 in the second term to pursue new deals that may raise concerns about the separation between the presidency and business interests.
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