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The Trump Organization is developing an ethics policy that will include some restrictions on deals, but will not completely prohibit foreign transactions. This policy is expected to be less stringent than the limitations the organization agreed to 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 next week, alongside other speakers who are enthusiastic 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 and eager to engage in business opportunities.
Following the election win of Donald J. Trump, his family business is in a position to take advantage of his presidency by launching new ventures. A review of financial records by the New York Times and interviews with individuals familiar with his finances suggest that the Trump Organization plans to capitalize on this opportunity, with a focus on growth rather than implementing a comprehensive ethics plan that could potentially restrict its expansion.
With the inauguration nearing, 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 uphold the pledge made by the company eight years ago to refrain from all other foreign deals while his father is in the White House.
If the guardrail, which is a key part of the Trump Organization’s ethics plan from 2017, was not in place, the company could potentially benefit financially from conducting business in countries that are important for American foreign policy. Leading up to the Election Day, 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 other countries in the Middle East, Latin America, and Asia.
The Trump family is expanding their connections internationally, moving beyond their real estate ventures to establish relationships in other industries.
A cryptocurrency platform called World Liberty Financial, with involvement from the Trump family, received a significant investment from a Chinese entrepreneur. This deal has the potential to earn the family around $22 million. The president-elect’s social media company, which is his main source of wealth and publicly traded, is also considering foreign investments.
The Trump Organization has launched new business ventures that will be monitored by government regulators chosen by the president. These expansions have increased the potential for conflicts of interest compared to Trump’s first term. Similar to the previous administration, the Trump Organization will have more freedom to engage in new business deals that may raise concerns about the separation between the presidency and the company.
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