Trump Family Expands Global Business as Ethics Debate Reignites \ Newslooks \ Washington DC \ Mary Sidiqi \ Evening Edition \ The Trump Organization unveiled an ethics agreement permitting deals with private foreign companies, reversing stricter policies from President Trump’s first term. Critics warn this change could encourage foreign entities to influence U.S. policy through investments in Trump-owned ventures. With new projects in Vietnam and a cryptocurrency platform, concerns over conflicts of interest and national security loom large.
Trump Organization Ethics Update: Quick Looks
- Revised Ethics Rules: New agreement allows foreign private company deals but excludes foreign governments.
- Critics’ Concerns: Potential conflicts of interest tied to Trump’s business and policy decisions.
- New Ventures: Cryptocurrency platform and global real estate deals under scrutiny.
- Vietnam Deal: $1.5 billion resort raises questions about U.S.-Vietnam trade policies.
- Past Ethics Issues: Trump faced similar scrutiny during his first term, including lawsuits over the emoluments clause.
Deep Look: Trump Organization Ethics Policy Sparks Renewed Debate Over Conflicts of Interest
The Trump Organization announced an updated ethics policy Friday, sparking a wave of criticism and raising new questions about the intersection of private business interests and public policy. The revised agreement allows deals with private foreign companies, a notable shift from stricter ethics guidelines imposed during President Trump’s first term, which prohibited both foreign government and foreign private entity transactions.
While the Trump Organization emphasizes that the updated guidelines exceed legal requirements, ethics experts argue the changes open doors for potential conflicts of interest and undue influence over U.S. policy.
A Shift in Ethics Policy
The newly introduced ethics white paper restricts deals with foreign governments but permits agreements with private foreign companies. This represents a significant departure from the precedent set during Trump’s first term when foreign company deals were also barred.
Eric Trump, executive vice president of the Trump Organization, defended the changes, stating:
“The Trump Organization is dedicated to not just meeting but vastly exceeding its legal and ethical obligations during my father’s presidency.”
The company also committed to safeguards such as hiring an external ethics advisor to vet deals and donating profits from foreign government spending at Trump properties to the U.S. Treasury.
New Ventures and Growing Concerns
The Trump Organization is already pursuing deals in countries such as Vietnam, Saudi Arabia, and the UAE. In Vietnam, the company partnered with a developer linked to the ruling Communist Party for a $1.5 billion luxury golf resort. Critics worry this may affect U.S.-Vietnam trade policy, particularly as President Trump has promised to impose tariffs on countries with significant trade surpluses.
In addition to real estate ventures, the Trump family has entered the cryptocurrency space with World Liberty Financial, a trading platform for digital currencies. The venture has drawn attention due to Trump’s reversal on cryptocurrency. Once a vocal critic, Trump now advocates making the U.S. the “crypto capital of the planet.”
Financial Stake in Publicly Traded Companies
The Trump Organization’s new ventures include holdings in publicly traded companies such as Trump Media & Technology Group, the parent company of Truth Social, and World Liberty Financial. Critics fear foreign entities could manipulate stock prices to curry favor with Trump, boosting his wealth and creating conflicts of interest.
“The scale of corruption will be orders of magnitude greater than in the first Trump administration,” warned Kathleen Clark, a government ethics lawyer. She argued that foreign actors could exploit these ventures by funneling cash through “investments” in Trump businesses.
Lessons From the Past: First-Term Ethics Concerns
During his first term, President Trump pledged to avoid conflicts of interest but faced significant criticism. High-profile controversies included:
- Washington, D.C. Hotel: The Trump International Hotel became a gathering spot for lobbyists and foreign diplomats. Ethics watchdogs accused Trump of violating the Constitution’s emoluments clause, leading to lawsuits that were ultimately dismissed after he left office.
- G-7 Summit Proposal: Trump proposed hosting a global summit at his Doral golf resort in Florida, an idea he later abandoned amid backlash.
Despite these controversies, the Supreme Court declined to rule on emoluments violations after Trump’s term ended, citing mootness.
International Expansion Amid Ethics Questions
The Trump Organization’s plans for international expansion include:
- Middle East Projects: Properties in Saudi Arabia and the UAE raise questions about potential policy shifts.
- Golf Courses: Two courses in Scotland and one in Ireland remain focal points for Trump’s European presence.
- Future Resorts: Developments in Oman and Indonesia are currently in various planning stages.
New Challenges in Cryptocurrency Ventures
Trump’s recent embrace of cryptocurrency has drawn scrutiny, particularly in light of his previous criticism of digital assets. His nominees for key administration roles, including Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent, are staunch cryptocurrency advocates.
The Securities and Exchange Commission (SEC) has flagged cryptocurrencies as risky, volatile investments, cracking down on firms engaged in fraud. Trump’s nominee for SEC chair, Paul Atkins, is an industry supporter, sparking concerns about lax oversight under the new administration.
Critics Call for Stronger Oversight
Ethics experts worry the revised ethics agreement may embolden foreign entities seeking influence over U.S. policy. Trump’s refusal to divest his assets, unlike other presidents, adds to these concerns. Kathleen Clark noted:
“People trying to win Trump’s favor now have an easy way to do so through massive cash investments in his ventures.”
Eric Trump expressed frustration with ongoing scrutiny, arguing that the business faced unfair criticism during the first term despite adhering to voluntary ethics rules.
A Balancing Act for the New Administration
As the Trump Organization pursues global deals, the administration must navigate the complex dynamics of ethics and policy. The voluntary ethics agreement, while designed to mitigate concerns, leaves significant gaps that could lead to new conflicts.
With high-profile ventures in politically sensitive regions and emerging markets like cryptocurrency, the Trump family business faces growing pressure to demonstrate transparency and accountability.
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