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The Trump Organization is set to unveil an ethics policy that will impose some restrictions on deals involving foreign entities, however, it is not anticipated to impose as many restrictions as it did back in 2008.
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, while David Yaffe-Bellany focuses on covering the cryptocurrency industry.
Eric Trump is scheduled to speak at a cryptocurrency conference in Abu Dhabi, where he will be part of a group of speakers discussing the current success of Bitcoin. His appearance will also serve as a way to show that the Trump Organization is ready to engage in business opportunities.
Following the election win of Donald J. Trump, his family business is set to take advantage of his presidency by launching new ventures. This information comes from a review of financial records and interviews with individuals familiar with his finances conducted by the New York Times. Unlike during his first term, sources indicate that the Trump Organization plans to implement a less restrictive ethics plan that will not hinder its growth significantly.
With the inauguration drawing near, Eric Trump, the second son of Mr. Trump and the unofficial leader of the company, is anticipated to avoid making deals with foreign governments. However, he does not intend to uphold the commitment made by the company eight years ago to refrain from all other foreign deals during his father’s presidency.
If the guardrail from the Trump Organization’s ethics plan in 2017 was removed, the company could potentially benefit financially from various business ventures 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 he is also looking into new hotel projects in Israel and other countries in regions like the Middle East, Latin America, and Asia.
The Trump family is expanding their connections internationally beyond their real estate ventures.
World Liberty Financial, a newly established cryptocurrency platform with involvement from the Trump family, has recently secured a profitable investment from a Chinese entrepreneur. This investment has the potential to earn the family around $22 million. Additionally, the president-elect’s social media company, which is his most significant source of wealth, is welcoming foreign investments.
The new business ventures, which will be monitored by federal regulators chosen by the president, highlight the increased complexity of conflicts of interest in the Trump Organization’s recent growth. Similar to the Trump administration, the company will have more freedom to explore new deals in the second term, potentially blurring the boundaries between the presidency and its business operations.
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