Trump's defense is that he says he has put his business "stuff" in trust and that his family manages it. As of 2018, the president holds over $ 130 million in foreign assets in that confidence, according to an analysis compiled by Open Secrets.
As a trustee, Trump's eldest son, Donald Trump Jr., who is also the executive vice president of The Trump Organization, is responsible for the care of the beneficiary (president) and the bottom line of the business. The agreement has raised concerns that Trump and his family could use the presidency to reap personal benefits.
Since the 2016 election, Trump and his family have been defending the decision, claiming there is nothing wrong with their business operations.
The recent controversy over former Vice President Joe Biden's son Hunter and his international business ties has added a new layer to conversations about business ethics made by the families of powerful politicians while in office. This also encourages the President's family to try to protect their own farms.
In a recent interview with Fox News, Eric, discussing Hunter's deals, noted that "the difference between us and Hunter was when my father became commander in chief of this country, we came out of all international business, right?"
. Jordan Libovitz, communications director for the Civic Responsibility and Ethics Group in Washington, a nonprofit nonprofit group, told CNN that Eric's claim was "the worst lie I've heard in a while."
Facts First: President Trump's three biggest children have all been involved in international business since he was somehow elected. In addition, the president has earned millions of dollars in foreign assets related to the Trump Organization in 201
7 and 2018 according to his public financial disclosure reports.
The Trump Organization also continues to market, promote and expand Trump-branded properties around the world since last month.
On October 10, Trump's TIGL Ireland Enterprises was approved for a new development that reports by the Irish Times would double the size of Trump International Golf Links and Hotel in Doonbeg, Ireland.
On the Trump Organization website, the Trump brand is associated with property in Scotland, residential property in India, Indonesia, South Korea, Turkey, the Philippines and Uruguay, as well as public golf courses in Scotland, Ireland, Dubai, Bali and Indonesia. There are accompanying Trump hotels in golf courses in Ireland and Scotland. There is also the Trump International Hotel & Tower in Vancouver, BC, which officially opened in February 2017.
As executive vice president of The Trump Organis, Trump's eldest sons continue to make international deals for the family-owned company, the original president promised
In February 2017, Eric departed for the Cape Cana Resort in the Dominican Republic, where the Trump Organization has been in business since 2007. Following the visit, the President and Vice President of the Cape Cana Council said relations between the two organizations "remain incredibly strong." , especially with Eric, who has led the project since its inception, "adding that" we are excited to work with the Trump Organization in the future phases of the project. "
While the Trump International Hotel and Tower in Vancouver was the first property opened with Trump's name since President Trump was sworn in, he was not the last. The month after his father took office, Trump's sons attended the grand opening of Trump's golf course in Dubai. While the Trump organization did not develop the course, the Trump brand is related to property as part of a license agreement.
The following year, Trump Jr. visited India to promote Trump-branded apartments for several development projects in Pune, Mumbai, Kolkata and around New Delhi. In June 2018, several months after Trump Jr. visited, construction of Trump towers outside New Delhi collapsed. The Trump Towers Delhi website contains a section on Trump, where Donald Jr. is quoted as saying "we are excited to expand the Trump brand." All Trump towers in India indicate on their websites that the properties are not owned, developed or sold by The Trump Organization and that they license the name "Trump".
These developments represent the same kind of international business that Trump did before his election. For years, most of the Trump Organization's international business has come from licensing the Trump name.
This August, Trump Jr. was in Jakarta, Indonesia to promote Trump Residences Bali and Trump Residences Lido at a private event and potential buy-in event tenants. Although the Trump Organization signed a contract for the two properties in 2015, the New York Times has reported that they have not yet been built after Trump Jr. visited. According to the President's 2016 Financial Disclosure Form, he received between $ 2-10 million for the two properties.
In Indonesia, Trump Jr. told reporters that the Trump Organization was making a conscious effort to avoid any conflict of interest, saying that "we have refused many deals." The organization received approval next month to expand its Aberdeen Golf Course in Scotland.
The Deals of Ivanka
Eric's assertion that Trump's children were "out" of international business could potentially be true of Ivanka, who shut down her eponymous fashion company in 2018, motivated in part by her realization that continuing viewed it as a violation of ethics laws and seemed to be winning not only from his father's role as president, but also from his influence as a senior advisor to the president,
However, Ivanka's previous international relations are closest to what the president claims to have done to Hunter Biden. In April 2017, Ivanka received approval from China for three preliminary trademarks related to her eponymous fashion company the same day she met with Chinese President Xi Jinping for dinner with her father, President Trump. Although Ivanka no longer has a leadership role with the company in 2017, it retains a stake until next year.