As he prepares for his inauguration on January 20, Donald Trump faces an unprecedented ethical quagmire, according to government watchdogs.
The President-elect oversees a vast real-estate empire with gleaming outposts around the globe, as well as lucrative business ties to key geopolitical allies and adversaries.
The Royal Gazette, a Bermuda newspaper, suggests the investment could be linked to a Bermuda-registered jet Trump once owned, but notes that it’s unclear whether the company is still active. Brazil Amid the run-up to the 2014 FIFA World Cup, and with the Brazilian economy buoyed by the discovery of new offshore oil reserves, Trump licensed his name to a lavish beachfront development called Trump Hotel Rio de Janeiro.After Trump’s victory in November, the project’s Georgian developer told a reporter that the plans were back on.Yet in December, Garten said that the Trump Organization was taking steps to extricate itself from the project.Meanwhile, Trump has significant Chinese business ties stateside: the biggest tenant in New York’s Trump Tower has been the Industrial & Commercial Bank of China (ICBC), a state-owned bank whose lease is set to expire in 2019.According to ethics watchdogs, the renewal negotiations could place Trump—who pledged during his campaign to impose tariffs on Chinese imports and label the nation a currency manipulator—in violation of the so-called “emoluments” clause in the Constitution, which prohibits accepting gifts or payments from foreign governments. Egypt Trump has positions in two companies that may be related to business in Egypt: Trump Marks Egypt and Trump Marks Egypt LLC.