ABC News, AFP, CNN, BBC News and CBS News
Trump’s businesses received millions from foreign entities during his presidency, House report says
Will Steakin – January 4, 2024
Former President Donald Trump’s businesses received millions of dollars from foreign entities located in 20 different countries during his presidency, according to a new report released Thursday by Democrats on the House Oversight committee.
The top Democrat on the Oversight Committee, Rep. Jamie Raskin, released the report and provided documents from Trump’s former accounting firm that show that 20 governments, including China and Saudi Arabia, paid at least $7.8 million during Trump’s presidency to business entities that included Trump International Hotels in Washington, D.C., and Las Vegas, and Trump Towers in New York.
The 156-page report by House Democrats is entitled “White House For Sale.”
In the forward to the report, Raskin wrote, “By elevating his personal financial interests and the policy priorities of corrupt foreign powers over the American public interest, former President Trump violated both the clear commands of the Constitution and the careful precedent set and observed by every previous commander in chief.”
The reports says that, according to “limited records” obtained by the committee, Saudi Arabia likely paid Trump-owned business at least $615,422 during Trump’s first term in office.
“While the Kingdom of Saudi Arabia was making these payments, President Trump chose Saudi Arabia as the destination of his first overseas trip — a choice that was unprecedented among U.S. presidents,” the report says.
The report claims that the payments violated the Constitution’s foreign emoluments clause, a rule that bars the president and other federal officials from accepting money or gifts from foreign governments without Congressional approval.
In 2021, the U.S. Supreme Court dismissed lawsuits accusing Trump of profiting from his presidency, on the grounds that he is no longer in office.
“Through entities he owned and controlled, President Trump accepted, at a minimum, millions of dollars in foreign emoluments in violation of the United States Constitution,” Democrats write in the report. “The documents obtained from former President Trump’s accounting firm demonstrate that four Trump-owned properties together collected, at the least, millions of dollars in payments from foreign governments and officials that violated the Constitution’s prohibition on emoluments ‘of any kind whatever’ from foreign governments.”
ABC News has reached out to Trump’s representatives for comment on the report.
Related:
AFP
Foreign govts paid Trump firms millions while president: report
AFP – January 4, 2024
Former US president Donald Trump‘s businesses received at least $7.8 million from foreign governments including China during his time in the White House, a congressional report claimed Thursday.
Officials from Saudi Arabia, India, Turkey and Democratic Republic of Congo were among some 20 countries’ representatives who paid money to Trump’s hotel and real estate businesses during his presidency, Democrats on the House Oversight Committee wrote in their report.
The authors claim that such revenues from overseas governments violated a constitutional ban on “foreign emoluments.”
“As President, Donald Trump accepted more than $7.8 million in payments from foreign states and their leaders, including some of the world’s most unsavory regimes,” said the report titled “White House for Sale.”
“We know about only some of the payments that passed into former President Trump’s hands during just two years of his presidency from just 20 of the more than 190 nations in the world through just four of his more than 500 businesses.”
– ‘Prohibited emoluments’ –
In the case of China, the report alleged that Beijing as well as businesses including ICBC bank and Hainan Airlines spent $5.5 million at Trump-owned properties.
“Former President Trump violated the Constitution when the businesses he owned accepted these emoluments paid by (Beijing) without the consent of Congress,” the report said.
The authors say that the full amount could be higher as the $5.5 million figure is based only on limited disclosures from Trump’s accountants Mazars and filings with the American financial regulator, the SEC.
In one expenditure dated August 27, 2017, a Chinese embassy delegation spent $19,391 at the Trump International Hotel in Washington.
The report also claims that “Saudi Arabia paid at least $615,422 in prohibited emoluments to former President Trump’s businesses over the course of his term in office from just (the Trump World Tower) and the March 2018 stay at the Trump International Hotel in Washington, DC.”
“Former President Trump has also boasted about the continued willingness of the Saudis to do business on terms highly favorable to him,” the report stated.
Trump’s Washington hotel was sold in 2022 to a private investor group and rebranded under the luxury Waldorf Astoria line.
The frontrunner for the 2024 Republican presidential nomination, Trump separately faces a civil fraud trial in New York over claims that his real estate businesses fraudulently inflated the value of their assets.
He is to go on trial in Washington in March for conspiring to overturn the results of the 2020 election, and in Florida in May on charges of mishandling top secret government documents.
The twice-impeached former president also faces racketeering charges in Georgia for allegedly conspiring to upend the election results in the southern state after his 2020 defeat by Democrat Joe Biden.
Related:
CNN
China spent over $5.5 million at Trump properties while he was in office, documents show
Zachary Cohen and Kara Scannell, CNN – January 4, 2024
The Chinese government and its state-controlled entities spent over $5.5 million at properties owned by Donald Trump while he was in office, the largest total of payments made by any single foreign country known to date, according to financial documents cited in a report from House Democrats released Thursday.
Those payments collectively included millions of dollars from China’s Embassy in the United States, a state-owned Chinese bank accused by the US Justice Department of helping North Korea evade sanctions and a state-owned Chinese air transit company. Accounting records from Trump’s former accounting firm, Mazars USA, were obtained by Democrats on the House Oversight Committee.
China is one of 20 countries that made at least $7.8 million in total payments to Trump-owned businesses and properties during the former president’s stint in the White House, including his hotels in Washington DC, New York and Las Vegas, the report states.
The documents offer additional evidence of the rare practice of foreign governments spending money directly with businesses owned by a sitting president but are not a complete record of all foreign payments made to Trump’s businesses during his time in the White House.
At the time, Trump’s lawyer said the former president planned to donate foreign profits from his hotels to the US Treasury Department. However, the amount reportedly donated by the Trump Organization in 2017 and 2018 falls well short of estimated foreign payments that were made to its properties.
Trump refused to divest himself of corporate assets and properties prior to taking office, meaning he could still profit from his various businesses with little transparency.
Democrats say the additional accounting records raise new questions about possible efforts to influence Trump through his companies while he was in the White House.
As an example, committee Democrats point to the fact that Trump declined to impose sanctions on the Industrial and Commercial Bank of China (ICBC), a state-owned entity that leased property at Trump Tower in New York.
A Securities and Exchange Commission filing from 2012 shows that the Chinese bank’s base rent paid was $1.9 million and documents produced by Mazars confirm the bank stayed in Trump Tower through 2019 at least.
In 2016, the Justice Department accused the bank of conspiring with a North Korean bank to evade US sanctions.
But upon taking office, Trump did not sanction ICBC despite calls from Republican members of Congress to “apply maximum financial and diplomatic pressure” by “targeting more Chinese banks that do business with North Korea,” House Oversight Committee Democrats wrote in a report summarizing the contents of the Mazars USA records.
Asked about China’s payments to Trump-owned properties, Chinese Embassy spokesperson Liu Pengyu told CNN, “China adheres to the principle of non-interference in internal affairs and does not comment on issues related to US domestic politics.”
“At the same time, I want to stress that the Chinese government always requires Chinese companies to operate overseas in accordance with local laws and regulations. China-US economic and trade cooperation is mutually beneficial. China opposes the US politicizing China-US economic and trade issues,” Pengyu added.
The Trump Organization says it donated over $450,000 in estimated profits from foreign government patronage to the US Treasury over the time of Trump’s term. The company also worked to track all foreign government business across its entire portfolio and did not make new business investments overseas while Trump was in office.
In a statement, Eric Trump said that the former president was tough on China regardless of any business interests.
“There is no President in United States history who was tougher on China than Donald Trump … a President who introduced billions and billions of dollars worth of tariffs on their goods and services,” Eric Trump said.
Democrats also argue that the Mazar documents show Trump repeatedly violated the US Constitution’s Emoluments Clause, which prohibits a president from receiving an “emolument,” or profit, from any “King, Prince, or foreign State” unless Congress consents. Yet despite ethical concerns that have been raised about Trump’s lack of adherence to constitutional norms that were embraced by his predecessors, legislation to enforce the Emoluments Clause has gone nowhere in Congress.
The committee, which has investigated Trump’s businesses and his lease of the Old Post Office in Washington from the US government that housed his hotel, was provided the records following a years-long court battle that ended in a settlement in 2022.
Many of the documents in the subset released Thursday have not been previously made public.
“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,” Democrats wrote in their report.
Saudi Arabia, for example, spent roughly $600,000 at Trump-owned properties during his time in office and was making significant payments in May 2017 when it signed a massive arms deal with the Trump administration.
The Trump administration agreed to the controversial arms deal, worth over $100 billion, despite bipartisan concerns about civilian casualties resulting from Saudi Arabia’s military intervention in Yemen.
The report produced by House Democrats also highlighted comments made by Trump during a 2015 campaign rally regarding his view of Saudi Arabia.
“Saudi Arabia, I get along great with all of them. They buy apartments from me. They spend $40 million, $50 million.” He continued, “Am I supposed to dislike them? I like them very much!” Trump said at the time.
Committee Democrats have previously released some of the accounting records, but those documents only accounted for a fraction of the foreign payments to Trump-owned businesses during the years he occupied the White House.
Foreign spending at Trump World Tower
A sizable percentage of foreign spending disclosed in the latest report comes from leases or common charge payments countries made for apartments their diplomatic missions rent or own at Trump World Tower, an apartment building across the street from the United Nations.
Many of the countries bought properties years before Trump ran for office, but they continued to make payments to the Trump Organization during the presidency.
Saudi Arabia, India, Qatar, Kuwait, Afghanistan, and a Chinese-government linked petroleum company each owned or rented apartments at Trump World Tower and combined paid the Trump Organization an estimated $1.7 million in charges and fees, according to House Democrats.
The figure is based on records the Democrats received from Mazars for the year 2018 – the only year Mazars gave to the committee – and then an extrapolation based on the assumptions the charges remain the same during the course of Trump’s presidency.
The biggest payment to the UN property came from Saudi Arabia, which owns the 45th floor of the apartment tower. Democrats estimate the Saudi government paid $537,080 during Trump’s presidency – out of a total $615,422 in emoluments. The remainder came from payments to Trump’s hotel in Washington DC.
Qatar paid an estimated $465,744 for the properties it owned during Trump’s presidency; India paid at least $264,184; Afghanistan spent an estimated $153,208 for its unit; and Kuwait paid Trump’s company $152,664 for the Trump World Tower.
Kuwait also spent roughly $150,000 to the Washington hotel for National Day events held by its embassy in 2017 and 2018, according to Mazars records.
The national day event was also held at the hotel in 2019, but the Democrats said they did not receive records from Mazars related to the cost. The events were attended by Trump administration officials, the Democrats said citing press releases from the Kuwaiti embassy.
This story has been updated with additional details.
Related:
BBC News
Trump companies got millions from foreign governments, Democrats say
Natalie Sherman – BBC News – January 4, 2024
Donald Trump‘s hotels and other businesses accepted more than $7.8m (£6.1m) from foreign governments during his presidency, according to a new report from Democrats in Congress.
They found that China was responsible for more than $5.5m of those payments, which Mr Trump is accused of accepting in violation of the US constitution.
The report is based on documents released by Mr Trump’s former accounting firm after a court battle.
Mr Trump did not immediately comment.
The US constitution bars presidents from accepting gifts or other benefits derived from their position without express permission from Congress.
The former businessman, who made his name as a hotel and property developer, has been dogged by questions about his firms’ dealings since he entered the White House in January 2017.
At the time, he placed his sons in charge of the companies’ day-to-day operations but maintained ownership of the businesses, which included the Trump International Hotel in Washington, which became a known haunt for lobbyists, foreign delegations and others.
Mr Trump, who is currently campaigning for a second term, faced numerous lawsuits alleging conflicts-of-interest.
In 2021, America’s highest court threw out the cases, saying they were moot after he lost the 2020 election.
Representative Jamie Raskin, the top Democrat on the House Oversight Committee, said the investigation showed Mr Trump “put lining his pockets with cash from foreign governments seeking policy favors over the interests of the American people”.
“The report’s detailed findings make clear that we don’t have the laws in place to deal with a president who is willing to brazenly convert the presidency into a business for self-enrichment and wealth maximization with the collusive participation of foreign state,” he wrote in the introduction to the report.
Democrats said their investigation showed that Mr Trump’s loyalties were split by the payments, which came from at least 20 governments many of which had sensitive or politically charged matters before the US.
They cite as an example that Mr Trump supported arms sales to Saudi Arabia that were opposed by Congress due to fears the weapons would be used against civilians.
The report also notes he cast doubt on US intelligence assessments that the Crown Prince Mohammad bin Salman had ordered the murder of Washington Post journalist Jamal Khashoggi.
After China, Saudi Arabia and its royal family was the second biggest patron of the Trump businesses, spending more than $600,000 at his properties, according to the report.
Qatar, Kuwait and India rounded out the top five list.
Democrats said that the findings reflect just the first two years of his presidency and only four of his properties, claiming it likely represented just a fraction of the money Mr Trump’s businesses made from foreign governments during his time as president.
In 2022, Democrats lost control of Congress and could no longer compel release of documents, cutting short the investigation.
Republican James Comer, who is leading an inquiry into the business dealings of President Joe Biden’s son, Hunter, during his father’s vice presidency, dismissed the findings.
“It is beyond parody that Democrats continue their obsession with former President Trump,” he said in a statement. “Former President Trump has legitimate businesses but the Bidens do not.”
Mr Trump’s tax records, released in 2022, revealed significant business losses during his presidency and he has scaled back his business.
The Trump Organization sold the Washington hotel to an investment group for $375m in 2022.
Related:
CBS News
Trump businesses got millions in foreign payments while he was president, Dems say
Kathryn Watson, Stefan Becket – January 4, 2024
Washington — Donald Trump‘s businesses received at least $7.8 million in payments from foreign governments and government-backed entities from 20 countries while he was in the White House, according to a new report by House Democrats.
Drawing upon 451 pages of documents received from Trump’s longtime accounting firm Mazars and a federal agency, Democratic staffers on the House Oversight Committee on Thursday issued their 156-page report entitled “White House for Sale: How Princes, Prime Ministers, and Premiers Paid Off President Trump.”
The records, the report said, “demonstrate that four Trump-owned properties together collected, at the least, millions of dollars in payments from foreign governments and officials.” The Democrats alleged these payments violated what’s known as the Constitution’s Foreign Emoluments Clause, which prohibits federal officials from accepting gifts or other benefits from foreign countries without congressional approval.
“This report sets forth the records showing foreign government money — and all the spoils from royals we can find — pouring into hotels and buildings that the President continued to own during his presidency, all in direct violation of the Constitutional prohibition,” said Rep. Jamie Raskin of Maryland, the top Democrat on the committee.
The Democrats noted that they had access to a limited number of financial documents and that “the foreign payments to President Trump identified in this report are likely only a small fraction of the total amount of such payments he received during his presidency.”
Where the payments came from
The Democratic report focuses on payments to four Trump-controlled businesses: the Trump hotels in Washington, Las Vegas and New York, and Trump Tower in Manhattan.
While Trump turned over day-to-day operations of his businesses to his sons when he entered the White House in 2017, he declined to divest his assets and retained “personal ownership and control of all his businesses, as well as the ability to draw funds from them without any outside disclosure,” the report alleged. This arrangement, Democrats said, “reinforced (rather than severed) his ties to his businesses and enabled him to prioritize his personal interests over those of the nation.”
During his presidency, the Trump International Hotel in Washington attracted many foreign diplomats and dignitaries hoping to mingle with Trump allies and administration officials. According to Trump’s financial disclosure reports from when he was president, he earned more than $40 million from the D.C. hotel in 2017, and $40.8 million the following year.
Despite Trump’s frequent criticism of China and insistence that the country was taking advantage of the U.S., the majority of foreign payments included in Thursday’s report came from the Chinese government and two state-owned entities.
The payments totaled nearly $5.6 million at properties including Trump Tower, and the Trump International Hotels in Washington and Las Vegas, the report found. The bulk of the payments came from the state-owned Industrial and Commercial Bank of China, which paid $5.35 million in rent for space in Trump Tower from February 2017 to October 2019.
The nation that spent the second-most at the Trump properties, according to the report, was Saudi Arabia. The Saudi government spent more than $615,000 at Trump World Tower in New York and the Trump hotel in Washington from 2017 to 2020.
The report noted that Trump praised Saudi Arabia and mentioned “his transactional relationships” with the kingdom before taking office. During an August 21, 2015, rally in Alabama, Trump said Saudi nationals had spent millions of dollars on his apartments.
“Saudi Arabia, I get along great with all of them. They buy apartments from me. They spend $40 million, $50 million,” he said. “Am I supposed to dislike them? I like them very much!”
The report said that Trump “oversaw several highly consequential decisions on a range of issues involving U.S. policy towards Saudi Arabia” while his businesses were receiving payments from the Saudi government. The Democrats noted Trump’s response to the 2018 death of Washington Post columnist and Saudi dissident Jamaal Khashoggi, in which he publicly doubted the conclusion of the intelligence community that the Saudi crown prince had ordered his killing.
Qatar follows Saudi Arabia’s spending, with $465,744 spent at Trump World Tower. Nearly all of the remaining payments, from countries including Kuwait, India, Malaysia, Afghanistan, the Philippines and the United Arab Emirates, occurred at the Trump International Hotel in Washington.
The fight over emoluments
Trump’s business dealings as president were the subject of three major court cases while he was in office, the first of which was filed in 2017. The cases, brought by Democratic lawmakers, several states and an oversight group, were the first legal battles over the Emoluments Clause, but failed to resolve questions about the definition of an “emolument” or the scope of constitutional provision. The Supreme Court dismissed two of them once Trump left office and declined to review the third.
The Trump campaign didn’t immediately respond to a request for comment on the new report. Trump dismissed the “phony Emoluments Clause” and concerns about his business dealings in 2019.
The Trump Organization has said it voluntarily donated proceeds from foreign governments to the U.S. Treasury every year from 2018 to 2021. In 2017, the Trump Organization said it would rely on foreign representatives to self-report if they were paying a Trump company for something in their official capacity.
The company said it donated $191,538 in foreign payments in 2019, $105,465 in 2020 and $10,577 in 2021.