Businesses tied to Republican former U.S. President Donald Trump received at least $7.8 million in foreign payments from 20 countries during his four years in the White House, Democratic congressional investigators said Thursday.
Quick Read
- Foreign Payments to Trump Businesses: Former President Donald Trump’s businesses received at least $7.8 million in foreign payments from 20 countries during his presidency, according to Democratic congressional investigators.
- Oversight Committee Report: The U.S. House of Representatives Oversight Committee Democrats released a 156-page report, suggesting these payments are likely a fraction of the total foreign payments made.
- Alleged Conflicts of Interest: The report highlights potential conflicts with Trump making foreign policy decisions while his businesses were financially benefiting from these countries.
- Trump’s Business Management: Trump, unlike previous U.S. presidents, did not divest from his businesses or place them in a blind trust, instead leaving management to his adult sons.
- Emoluments Clause Investigation: Congress investigated potential violations of the U.S. Constitution’s emoluments clause, which prohibits federal officeholders from accepting gifts from foreign states without congressional consent.
- Legal Dispute and Settlement: A lengthy court dispute over this matter was settled in 2022, leading to the production of requested documents by Trump’s accounting firm.
- Limited Scope of Documents: Documents provided were related to only four of Trump’s 558 corporate entities, with at least 80% of his business entities’ documents not produced.
- Political Context: The report’s release coincides with Trump’s campaign for the 2024 presidential election, where he is a leading Republican candidate.
- Republican Dismissal of Findings: Republican James Comer, chairman of the committee, dismissed the report’s findings, contrasting Trump’s legitimate businesses with allegations against the Biden family.
- Impeachment Inquiry Against Biden: House Republicans have launched an impeachment inquiry against President Joe Biden, focusing on his son Hunter Biden’s business dealings and alleged Justice Department interference. The White House has denied any wrongdoing.
Reuters has the story:
Trump business got at least $7.8M in foreign payments during presidency -Report
Newslooks- WASHINGTON, Jan 4 (Reuters)
Businesses tied to Republican former U.S. President Donald Trump received at least $7.8 million in foreign payments from 20 countries during his four years in the White House, Democratic congressional investigators said Thursday.
U.S. House of Representatives Oversight Committee Democrats said the payments detailed in the 156-page report are likely a fraction of the foreign payments made to Trump and his family during his 2017-2021 administration.
“These countries spent — often lavishly — on apartments and hotel stays at Donald Trump’s properties — personally enriching President Trump while he made foreign policy decisions connected to their policy agendas with far-reaching ramifications for the United States,” the report said.
The countries included China, Saudi Arabia, Turkey, the Democratic Republic of Congo and Malaysia.
Trump’s campaign did not immediately respond to requests for comment.
Trump, a businessman before his election, broke with U.S. precedent and did not divest from his businesses or put them into a blind trust when he took office, instead leaving his adult sons to manage them.
Shortly after Trump was elected to the presidency in 2016, Congress began probing conflicts of interests and Trump’s potential violations of the emoluments clause of the U.S. Constitution, which bars the acceptance of presents from foreign states by a person holding federal elected office without congressional consent.
The investigation led to a lengthy court dispute, which ended in a settlement in 2022, at which point Trump’s accounting firm began producing the requested documents.
When Republicans took control of the House early last year, the committee stopped requiring Trump’s accounting firm to produce documents and a U.S. District Court ended the litigation.
The report discussed four properties, less than 1% of the 558 corporate entities Trump owned either directly or indirectly as president. Trump’s accounting firm did not provide documents regarding at least 80% of Trump’s business entities, congressional investigators said.
The report’s release comes as Trump, 77, seeks to regain the presidency in the 2024 election. He is the leading candidate to secure the Republican nomination and is expected to face off against President Joe Biden, 81, in a rematch of the 2020 campaign.
The committee’s chairman, Republican James Comer, dismissed the report’s findings.
“It’s beyond parody that Democrats continue their obsession with former President Trump,” Comer said in a statement. “Former President Trump has legitimate businesses but the Bidens do not.”
House Republicans have mounted an impeachment inquiry against Biden mostly centered on his son, Hunter. Republicans allege that Biden and his family improperly profited from policy actions Biden participated in as vice president in 2009-17 and that the Justice Department interfered with an investigation into Hunter Biden’s taxes for political purposes.
The White House has denied wrongdoing.
