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The Trump Organization is preparing to unveil an ethics policy that will place some limits on business deals, but will not completely prohibit foreign transactions. This move comes as a contrast to the stricter restrictions the organization agreed to abide by 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 focuses on covering the cryptocurrency industry.
Next week, 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 conference will also serve as a great chance to show that the Trump Organization is ready to engage in new business opportunities.
Following Donald J. Trump’s win in the election, his family business is in a position to take advantage of his presidency by pursuing new business opportunities. A review of financial documents and interviews with individuals familiar with his finances by The New York Times revealed this. The Trump Organization plans to implement a less restrictive ethics plan in his second term, which is not expected to hinder its expansion significantly.
With the inauguration drawing near, Eric Trump, the second son of Mr. Trump and the unofficial head of the company, is expected 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 while his father is in office.
If the guardrail implemented by the Trump Organization in 2017 is removed, the company would have the opportunity to make money from various business ventures in countries important to American foreign policy. Before the election, Eric Trump engaged in real estate transactions in Vietnam, Saudi Arabia, and the United Arab Emirates. He also expressed interest in developing new hotels in Israel and other countries in the Middle East, Latin America, and Asia.
The Trump family is expanding its connections to other countries beyond just the real estate industry.
A newly established cryptocurrency platform called World Liberty Financial, with involvement from the Trump family, 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 primary source of wealth, is considering foreign investments.
The Trump Organization’s new endeavors will be monitored by government regulators chosen by the president. This highlights how the company’s growth under Trump has led to more conflicts of interest. Similar to his first term, the Trump Organization will have more freedom to pursue deals that may create confusion between the presidency and the business in the upcoming second term.
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