Transition to the presidency
Transition of power
Transition of Power
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The Trump Organization is preparing to introduce an ethics policy that will impose some limitations on deals involving foreign entities. However, it is unlikely that the policy will be as strict as the one implemented 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 specializes in covering the cryptocurrency industry.
Eric Trump will be speaking at a cryptocurrency conference in Abu Dhabi next week, along with other speakers who are excited about the current success of Bitcoin. His appearance at the event will also show that the Trump Organization is ready and eager to do business.
Following Donald J. Trump’s win in the election, his family business is in a position to take advantage of his presidency by starting new projects, as reported by the New York Times after reviewing financial records and speaking with sources familiar with his finances. It has been mentioned that unlike during his previous term, the Trump Organization plans to implement a less strict ethics plan that may not have a significant impact on 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 company’s previous commitment to refrain from any other foreign deals while his father is in office.
If the guardrail of the Trump Organization’s 2017 ethics plan was not in place, the company could potentially benefit financially from conducting business in countries crucial to American foreign policy. Leading up to the election, 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 expanding their connections with other countries outside of their real estate ventures.
A recently established cryptocurrency platform called World Liberty Financial, with involvement from the Trump family, has secured a significant investment from a Chinese entrepreneur. This deal has the potential to earn the family around $22 million. Additionally, the president-elect’s social media company, which is his main source of wealth, is open to receiving investments from foreign entities.
The recent expansion of the company has led to the introduction of new ventures that will be monitored by government regulators chosen by the president. This highlights the increased complexity of conflicts compared to Trump’s first term. Similar to the previous administration, the Trump Organization will have the freedom to pursue new deals in the second term, potentially leading to conflicts between the presidency and the business.
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