Trump's company is not agreeing to a blanket stop on new foreign business transactions.
The Trump Organization unveiled a new ethics plan that it says will limit President-elect Donald Trump’s involvement in management decisions and other aspects of the business while he is in the White House.
The Trump Organization announced Friday that the company will not enter into new agreements with foreign governments while Donald Trump is in office.
The Trump Organization on Friday announced that President-elect Donald Trump will not have any involvement in managing his real-estate and branding empire during his second term and appointed an outside ethics adviser to monitor major company actions – part of several measures the organization said it was taking to avoid conflicts of interest as Trump prepares to return to the White House later this month.
The measures, which were immediately called insufficient by ethics lawyers, included appointing an outside lawyer and limiting Mr. Trump’s access to detailed financial information.
The plan bans new deals between the Trump Organization and foreign governments − but not foreign businesses, as had been the case in the first Trump administration. It also outlines a review process for several transactions that meet a certain threshold like purchases over $10 million or leasing more than 40,000 square feet of real estate space.
The company is set on Friday to release a series of ethics rules governing the incoming president’s interactions with his business empire.
The Trump Organization is reportedly considering reacquiring a hotel it used to run in downtown Washington, D.C., less than three years after selling the lease to the property. The hotel property located at the Old Post Office building on Pennsylvania Avenue was opened as the Trump International Hotel in 2016,
The Trump family business has agreed to a voluntary ethics agreement that would ban it from striking direct deals with foreign governments after inauguration, but would give it a free hand to pursue ventures with private foreign companies.
Donald Trump’s controversial family business was dogged by ethics questions during his first term. Those questions are multiplying now.
Discussions about a new Trump-branded vodka centered on Eric Trump Wineries and an LLC that would use the Trump name under a license agreement, two sources said.
President-elect Donald Trump will enter the White House this month as a felon, but will serve no jail time under a sentence handed down this morning in New York for his criminal conviction in a hush-money trial that angered him and his supporters but didn’t prevent him from reclaiming the presidency.