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Trump’s expanding business ties come under ethics spotlight

10 16
26.11.2024

President-elect Trump is entering office with a wider array of investments and potential conflicts of interest than was seen during his first term, setting the stage for greater scrutiny of his dealings.

Trump generally has the same empire of hotels and real estate holdings from the first term that sparked criticism that foreign governments could seek to influence him through his business ties.

But since leaving office, Trump has augmented his business ventures, launching a social media platform that stands to benefit from his return to the White House while getting involved in cryptocurrency and signing new deals across the globe.

“There are a number of a number of ways that he has expanded and broadened his portfolio, particularly in social media and in crypto, where the president of the United States has lots of ability to make policy decisions that would benefit his financial bottom line and do so potentially to the detriment of the American public,” said Donald Sherman, chief counsel at Citizens for Responsibility and Ethics in Washington (CREW).

The Trump campaign did not respond to requests for comment for this story.

Trump ahead of his first term turned over control of the Trump Organization, which runs his hotels and properties, to his sons. He did not divest from them or put them in a blind trust, breaking with a precedent set by past presidents.

This time, it’s not clear Trump will even go that far. Shortly after he won the election, he blasted the idea that he would sell the media company that oversees Truth Social.

“I HAVE NO INTENTION OF SELLING!” Trump said in a Nov. 8 message on Truth Social, calling the site “an important part of our historic win.”

Trump’s past practices have already put the spotlight on his sources of income, triggering criticisms they run afoul of constitutional limitations on the income presidents can receive.

“The President-elect this time around doesn't appear to be interested or willing to create any sort of firewall or to remove himself from his business operations or divest from any holdings to decrease the appearance of those conflicts of interest,” said Danielle Caputo, an ethics expert with the Campaign Legal Center.

Social media

Trump’s social media company presents the same problem as his hotels, according to ethics and legal experts. Both provide an avenue for foreign governments or other interests to seek favor with the Trump administration.

While Trump owns a majority of shares in........

© The Hill


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