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The Trump Organization is preparing to release an ethics policy that will place some restrictions on business dealings, but is not expected to completely prohibit foreign transactions. This is a contrast to the stricter limitations the organization agreed to follow 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.
Eric Trump will be speaking at a conference about cryptocurrency in Abu Dhabi next week, where he will be part of a group of speakers discussing the current success of Bitcoin. This event will also serve as a chance for the Trump Organization to show that they are ready to engage in business opportunities.
Following Donald J. Trump’s win in the election, his family business is set to take advantage of his presidency by launching new projects. A review of financial records by the New York Times and interviews with individuals familiar with his finances revealed this. It is expected that in his second term, the Trump Organization will implement a less restrictive ethics plan that will not hinder its expansion.
With the inauguration drawing near, Eric Trump is anticipated to avoid making deals with foreign governments. However, he does not intend to uphold the company’s previous commitment to refrain from all other foreign deals while his father is in office.
If the guardrail is removed, the Trump Organization could potentially benefit financially from conducting business 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 has also expressed interest in developing new hotel projects in Israel and other countries in the Middle East, Latin America, and Asia.
The Trump family is expanding their connections with foreign countries beyond just their real estate ventures.
A newly established cryptocurrency platform called World Liberty Financial, which was assisted in its creation by the Trump family, has just secured a substantial investment from a Chinese businessperson. This investment has the potential to earn the family approximately $22 million. Additionally, the president-elect’s social media company, which is his main source of wealth, is welcoming foreign investments.
The Trump Organization has expanded, leading to new business ventures that will be regulated by federal officials appointed by the president. This expansion has increased the potential for conflicts of interest compared to the first term of Mr. Trump. Similar to his administration, the Trump Organization will have more freedom to engage in new deals during the second term, potentially causing overlap between the presidency and the company’s business interests.
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