Transition of power from
Transition of power
Transition of power
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The Trump Organization is preparing to release an ethics policy that will include some restrictions on deals involving foreign entities. However, it is unlikely that the policy will be as strict as the limitations put in place eight years ago.
Written by a collaboration of authors including Eric Lipton, Ben Protess, and David Yaffe-B
For almost ten years, Eric Lipton and Ben Protess have been reporting on the Trump family business. David Yaffe-Bellany focuses on the cryptocurrency industry.
Eric Trump will be speaking at a cryptocurrency conference in Abu Dhabi soon, where he will be part of a group of speakers discussing the current success of Bitcoin. His appearance at the event will also serve as a way to show that the Trump Organization is ready to do business.
After Donald J. Trump won the election, his family business is prepared to take advantage of his presidency by launching new projects, as per a New York Times investigation into financial records and interviews with individuals familiar with his finances. Sources mentioned that in his second term, the Trump Organization plans to implement a less strict ethics plan that may not hinder its expansion.
With the inauguration nearing, Eric Trump, the second son of Mr. Trump and the unofficial leader of the company, is expected to avoid making deals directly with foreign governments. However, he does not intend to follow the company’s promise from eight years ago to avoid all other foreign deals while his father is in the White House.
If the guardrail, which was a key part of the Trump Organization’s ethics plan in 2017, is removed, the company would have the opportunity to make money from various business ventures in countries that are important to American foreign policy. In the period before Election Day, Eric Trump finalized real estate agreements in Vietnam, Saudi Arabia, and the United Arab Emirates. He also expressed interest in starting new hotel projects in Israel and other nations in the Middle East, Latin America, and Asia.
The Trump family is expanding their connections with foreign countries in addition to their real estate ventures.
A recently established cryptocurrency platform called World Liberty Financial, with involvement from the Trump family, secured a profitable 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 publicly traded and is his main source of wealth, is also accepting investments from foreign entities.
The Trump Organization’s new business ventures will be under the watch of federal regulators chosen by the president, showing how the company’s growth has led to more conflicts than before. In the second term, the Trump Organization will have more freedom to pursue new deals that may create potential conflicts of interest between the presidency and the business.
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