Trump to restart foreign deals, breaking a post-presidency norm
Trump’s namesake company plans to resume foreign real estate projects, likely luxury hotels, as it grapples with a tarnished brand in the United States and the need to pay off hundreds of millions of dollars of debt, according to three people familiar with the plans, not to mention past public statements from Trump's children. Company officials have already vowed to look into more developments in India and will be expected to give a second look to projects they had considered in China, Turkey, Colombia and Brazil before Trump entered office.
The arrangement is already being criticized as one that could be used to pay back Trump for his policies as president or to influence U.S. policy through a former president — and possibly a future presidential candidate.
Other former presidents have faced allegations they were monetizing the presidency with their post-presidency ventures, including paid speeches abroad, seven-figure book advances and foreign donations to presidential libraries. Most recently, Bill Clinton raised millions of dollars from foreign governments and foreign donors for his family’s global charity.
But Trump’s return to overseas dealmaking as a private businessman raises a new set of ethical issues no ex-president has ever confronted. Trump’s company, the Trump Organization, is sprawling and extensive — it comprises more than 500 businesses, including hotels, resorts and golf clubs around the globe. And since it’s not a charity or publicly held, it has fewer financial disclosure requirements. To cap it off, few American financial firms are still willing to lend Trump money, meaning he increasingly has had to go abroad to seek financing.
https://www.msn.com/en-us/news/politics/trump-to-restart-foreign-deals-breaking-a-post-presidency-norm/ar-BB1bxHex?li=BBnbfcQ&ocid=DELLDHP
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