Donald trump has decided to abandon the management of their own business in order to avoid potential conflicts of interest during the tenure of President of the United States. The NYT notes that the Republicans have business interests in 20 countries, but the Washington Post reported on the numerous attempts of the elected President to build the Trump Tower in Moscow.
Elected President of the United States, Donald trump intends to move away from the control of their business Empire, the control of the United States is “much more important”, said the Republican in his Twitter account. He also spoke about plans to convene the December 15 press conference at which he announced a complete withdrawal from business, and explain exactly how he will do it.
“I’ll get a big press conference in new York… December 15, to discuss my complete withdrawal from the business to concentrate on running the country… Although the law does not oblige me to do so, I believe that as President I need to formally exclude any potential conflicts of interest,” wrote trump on his Twitter account.
He noted that the press conference would be attended by his children, some of whom, according to Bloomberg, are also his business partners. “We are preparing legal documents that will completely remove me from the leadership of the business. The presidency is a much more important task!” — added trump.
A conflict of interest
Trump deals with foreign business partners may violate the provisions of the Constitution of the United States, which prohibits American officials from accepting gifts or money from foreign governments, according to Bloomberg.
In the Philippines elected US President has a license agreement with businessman Jose Antonio for the construction of the Trump Tower (57-storey building under the brand name Trump) in Manila. The cost of the project, according to The New York Times, is estimated at $150 million In October, Antonio was appointed special representative of the Philippines to the United States.
The largest tenant of office space in the Trump Tower on Manhattan is a public industrial and commercial Bank of China. The rental contract ends in 2019.
Business trump represented at least 20 countries, especially in emerging markets, including India, Indonesia and Uruguay, the NYT writes, citing its own research of publicly available data. The newspaper notes that business interests trump can be much wider, as it did not publish your tax return.
Real estate India ranks second after the US in terms of business trump. The objects are constructed together with the companies associated with the political elite of this country, the NYT continues.
In Ireland and Scotland, the top managers of companies trump are fighting local governments that do not give permission for the construction of the wall for flood protection along the Irish coast because of fears that it could harm local populations of snails. “Soon this dispute will join the President of the United States,” notes the NYT.
Turkey’s President Recep Tayyip Erdogan called to remove the trump name from several of the Trump Tower in Istanbul due to the fact that the latter was threatened with a ban on entry to USA for Muslims. However, once trump has recognized the right of Erdogan to conduct “cleansing” after the coup, the protests against his business in Turkey subsided. “It raises concern that future policies will trump against Turkey may be due to his personal commercial interests,” reports the NYT.
Ties with Russia
“I would like to note that I have zero investment in Russia”, — reported earlier in his Twitter account Donald trump.
However, according to The Washington Post, it is impossible to believe before the Republican will publish your tax return. According to the newspaper, trump promises to build the Trump Tower in Moscow for about 30 years.
For the first time trump has arrived in Moscow in 1987, where he planned to build a hotel in partnership with the government of the USSR. Later, he came back in 1996 with the top managers of the American tobacco company in an attempt to revive the old project, then presented the building project, but to implement is not reached, says WP.
In 2005, trump once again tried to build a building in Moscow, which signed a contract with the new York real estate company Bayrock Group. In 2007, its head Felix Seyter reported that he had already found a Russian investor for the project. The construction was planned on the territory of the former Moscow factory of pens behalf of Sacco and Vanzetti.
But this project did not take place. Then trump promised to continue efforts to build the Trump Tower in Moscow. “Russia is one of the most attractive places in the world to invest… someday we’ll start a business there”, — he said.
In 2013, trump signed a letter of intent on investment in commercial real estate in Moscow with Russian businessman Aras Agalarov, with whom he spent in the capital of Russia contest “Miss universe” in 2013. Later, however, Agalarov told the newspaper that the project was frozen, while trump takes part in the presidential race.
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