Affichage des articles dont le libellé est Trump Organization. Afficher tous les articles
Affichage des articles dont le libellé est Trump Organization. Afficher tous les articles

dimanche 27 mai 2018

Corrupted Clown President

More than 60 lawmakers demand ethics investigation into Trump's relationship with China
BY MARY TYLER 

More than 60 Democratic representatives are demanding an ethics investigation into Trump's ties to China, following his recent push to rescue Chinese telecommunications firm ZTE.
Rep. David Cicilline (D-R.I.) posted a letter to David Apol, acting head of the federal government's ethics office, to Twitter on Sunday, stating that the request was prompted by Trump "advocating" for ZTE just days after the Chinese government gave one of the president's business endeavors a $500 million loan.
In the letter, lawmakers say the business dealing between the Trump Organization and China may have violated U.S. laws forbidding public officials from accepting payments or gifts from foreign entities without Congress's approval.
"The Chinese government's loan provides a clear financial benefit to Trump," the letter reads. "Despite the nearly unanimous recommendation by legal experts that he divest from his business interests before assuming the presidency, he failed to do so, instead placing his adult children in charge of day-to-day operations."

NEW: Will be sending this letter with more than 60 colleagues to demand an ethics investigation into @realDonaldTrump advocating for a Chinese company just days after China’s government gave his company a $500 million loan. pic.twitter.com/EC2fbjz4gr— David Cicilline (@davidcicilline) May 27, 2018
Rep. David Cicilline

Because Trump still holds interests in his businesses via a revocable trust — an arrangement that allows him to draw funds at his discretion — the president will be able to oversee the project and "earn a profit if it succeeds," according to the letter.
The project, an Indonesian theme park and development that will house Trump-branded hotels and golf courses, snagged a $500 million loan from China earlier this month.
Three days after the loan was reported, Trump announced that he ordered his administration to buoy ZTE, saving it from financial collapse. 
Trump sought to revive ZTE earlier this month, roiling lawmakers on both sides of the aisle who have sought to fortify restrictions on the company's ties to the U.S.
Despite a wave of bipartisan pushback, Trump on Friday appeared to confirm that his administration had reached a deal to put ZTE back in business.
"I closed it down then let it reopen with high level security guarantees, change of management and board, must purchase U.S. parts and pay a $1.3 Billion fine," he tweeted late Friday. 
"Dems do nothing but complain and obstruct."
Cicilline and the letter's co-signatories raised alarm over the short time frame between the loan's announcement and Trump's hinting at a renewed deal with ZTE.
"We believe that these events raise several potential constitutional and ethical violations," the letter continues. 
"… [T]he extremely short time period between the Chinese's [sic] government's loan and Trump's order to roll back penalties on ZTE warrants a review of any applicable federal ethics regulations."
Lawmakers went on to ask the ethics office to investigate whether the administration improperly secured the $500 million loan from China, whether Trump sought and obtained congressional approval before accepting the loan, and whether Trump or a member of his administration violated federal statute regarding conflicts of interest or ethics in the decision to ease sanctions on ZTE.
"The Trump administration has yet to give a satisfactory answer about the reason behind and the appropriateness of making concessions to ZTE, a Chinese company that illegally sold U.S. technology to hostile regimes," they wrote. 
"The Trump administration has also completely failed to address the suspicious timing between this policy reversal and the Chinese government's loan to a Trump-linked project."
"As you know, the issue of U.S. policy being manipulated by a foreign entity or the personal business interests of a public official is of grave concern to the American people. We ask that you promptly conduct a review of this matter and keep us apprised periodically about the progress of your investigation," the letter concludes.
Lawmakers have expressed previous concerns about ZTE potentially threatening national security. 
A 2012 House Intelligence Committee report warned congressional leaders to be wary of doing business with ZTE and Chinese competitor Huawei.
ZTE was banned by the Commerce Department from buying tech components after it violated U.S. sanctions by selling equipment to North Korea and Iran.

jeudi 17 mai 2018

Corrupted Clown President

HOW CHINA IS BRIBING DONALD TRUMP
Trump suddenly softens on a Chinese business after Beijing bankrolls a Trump Organization project.

BY BESS LEVIN







When Donald Trump announced on Sunday night that he was riding to the rescue of Chinese electronics maker ZTE, more than a few people, including those who work for him, were shocked. For one thing, Trump has long-claimed that China “is raping us” through unfair trade practices, and stealing American jobs. 
For another, the U.S. and Beijing are currently locked in tense negotiations to avoid a protracted trade war, thanks to the president’s decision to slap Chinese imports with a vast array of tariffs. 
For yet another, just a month prior, Trump’s own Commerce Department had banned shipments of American technology to ZTE for seven years, saying that the company violated American sanctions against countries including Iran and North Korea and lied about punishing employees for doing so. As a result, ZTE halted major operating activities—an outcome you’d have expected to please the president, considering he’d just imposed aluminum and steel tariffs on “national security” grounds, and ZTE was threatening national security
So it was a bit odd to see Trump pull a complete 180, suddenly insisting that the company and its 75,000 Chinese jobs must be saved, though to be fair, tweeting “Look, China just pumped $500 million into a Trump Organization project so I had to do them a solid” might not have gone over so well.
Oh, that’s right—according to multiple news outlets, the president’s total about-face on China came just 72 hours after the developer of a theme park outside Jakarta, known as MNC Lido City, with whom the Trump Organization has an agreement to license its name, signed a deal to receive $500 million in Chinese government loans, in addition to another $500 million from government banks. According to Agence France-Presse, the Trump Organization will rake in almost $3.7 million in licensing and consulting payments from Lido, along with another project in Bali. 
The company will also earn management fees, and be “eligible for additional unspecified incentives.” (Upon entering the White House, Trump turned over day-to-day management of the family business to his sons Donny Jr. and Eric, but chose not to divest himself financially from the company.)
Of course, we can’t entirely be sure that the financial injection was the reason for Trump’s sudden soft spot for Chinese jobs. 
Other theories for the change of heart include the fact that the economic nationalists in the White House are losing ground to the free-traders like Larry Kudlow; and that Trump sees helping ZTE as a way to get a trade deal with China. (According to the Washington Post the Chinese government gave and the U.S. a list of economic and trade demands and bullet point 5 was “announce adjustment to the [ZTE] export ban.”) 
But we also know that this is a president for whom kissing the ring goes very, very far. 
“You do a good deal for him, he does a good deal for you. Quid pro quo,” Richard Painter, the White House ethics lawyer for George W. Bush, told HuffPost
This is another violation of the emoluments clause of the Constitution,” Painter added, referring to the prohibition against the president receiving payments from foreign governments.
The White House, naturally, isn’t commenting on any of this. 
“You’re asking about a private organization’s dealings that may have to do with a foreign government. It’s not something I can speak to,” Deputy Press Secretary Raj Shah said Monday when he was asked about the Lido City deal. 
Luckily for Trump, the Trump Organization can’t speak to questions involving the president, either. And so any ethics issues involving either Trump or the businesses putting money in his pocket necessarily disappear into a metaphysical black hole.
Robert Weissman, president of the advocacy group Public Citizen, called the turn of events “stunning.” 
“They perpetually find new things to surprise me,” he said. 
The idea of the president intervening in a law-enforcement matter to satisfy a foreign government is extraordinary. And it’s extraordinary because it doesn’t happen. Opening that door threatens the integrity of all corporate law enforcement. The Chinese government seems to have figured out a way to manipulate Trump,” Weissman added. 
“It’s exactly why this anti-bribery clause of the Constitution is common sense.” 
As Christopher Balding, an economics professor at Shenzhen’s HSBC Business School, told A.F.P., “Even if this deal is completely and entirely above board, it simply furthers the perception of impropriety” concerning Trump’s business dealings. 
“Especially with the potential trade war, this is not a good look... Critics will be entirely right to demand answers.” 
We’re sure the administration, whose motto is basically “We’re open for business, baby,” will get right on that.

mercredi 16 mai 2018

The Buying of the President

Trump talks trade with China as project linked to his company gets Chinese business
By Julia Horowitz
The construction site for a theme park project in Lido, Indonesia. A Chinese construction company has formalized plans to develop the theme park, which is part of a project for which the Trump Organization has licensing agreements.
Donald Trump is negotiating with China on trade while the Trump Organization is involved in a deal linked to a Chinese developer.
A state-owned Chinese construction company, MCC Group, said last Thursday it had formalized plans to develop a theme park in Lido, Indonesia. 
The park is part of a broader project called MNC Lido City, and the Trump Organization has existing licensing agreements for other components of the project.
The Trump Organization in 2015 said it would partner with MNC Land, the Indonesian developer in charge of the project, to put the Trump name on a golf course, luxury hotel and residential development on the premises.
The company said on Tuesday its licensing deals are separate from the China-backed development of the theme park.
"The theme park project is wholly owned by MNC Land and has no relationship to the Trump Organization," the company said in a statement. 
"MNC Land's relationship with the Trump Organization consists of management agreements that were signed in 2015 for luxury hospitality and residential projects owned by MNC Land at MNC Lido City and MNC Bali Resort." (The Trump Organization also partnered with MNC on a resort in Bali, Indonesia.)
When asked for comment, MNC provided the same statement as the Trump Organization.
China's commitment to the Indonesian project comes as Trump and his administration are engaged in high-stakes talks with Beijing on trade.
On Sunday, in a move that surprised many, the president tweeted that he's working with Xi Jinping to help Chinese state-controlled phone and telecom equipment maker ZTE get back into business, adding the "Commerce Department has been instructed to get it done!"
ZTE said last week that it halted its main operations after the Trump administration banned American companies from selling it vital components.
Negotiations are ongoing, Trump said Tuesday morning. 
Chinese Vice Premier Liu He is scheduled to be in Washington Tuesday through Saturday for a second round of trade talks amid escalating threats of sanctions.
Trump isn't in charge of the Trump Organization anymore, but he has not sold his ownership stake in the company. 
His sons, Donald Jr. and Eric, took the reins of the company after their father took office and stepped away from his business empire.
But ethics experts have questioned how effective Trump has been in separating himself from his businesses and potential conflicts of interest.
"He hasn't done what everybody else did for 40 years — Republicans and Democrats — and set up a blind trust," said Norm Eisen, the former ethics chief for President Barack Obama and a CNN contributor. 
"He's simply maintained ownership of his properties."
(Eisen is involved in lawsuits against Trump alleging that the president's acceptance of payments and other benefits from foreign governments is in violation of the Constitution.)
The Trump Organization has been involved in the Lido project, which is less than 50 miles from Jakarta, since at least 2015. 
The company reported income from the partnership in 2016 and 2017.
"Trump Hotel Development is involved in the master plan of this spectacular development, which will include the first Trump golf course in Asia as well as a world-class spa, luxurious hotel and residences," Donald Trump Jr., said in a statement in September 2015.
In the same press release, MNC CEO Hary Tanoesoedibjo touted what he called an "integrated lifestyle resort destination," and noted MNC's plans to develop Indonesia's first "world-class" theme park in addition to the Trump luxury properties.
In June 2016, MNC said that it had secured an agreement with the Chinese construction firm, MCC, to design and build "a world-class integrated theme park resort in Lido."
Last week, MCC said that subsidiary China Jingye had finalized the deal.
China's interest in building the theme park is connected to its One Belt, One Road initiative, which seeks to expand China's international footprint by pumping hundreds of billions of dollars into railways, roads, ports and other projects across Asia, Africa and Europe.
MCC did not immediately respond to a request for comment on Tuesday about the deal, or whether the timing is related to negotiations with Trump on trade.

samedi 25 février 2017

Presidential Interests

Top Democrats demand answers on Trump’s China trademark
By AUSTIN WRIGHT
Sen. Dianne Feinstein has previously argued the trademark deal could violate the Constitution’s Emoluments Clause. 

Three senior Senate Democrats are seeking answers from the State Department on China’s decision to grant a trademark to the Trump Organization — a decision the senators say could violate the Constitution.
Sens. Ben Cardin of Maryland, Dianne Feinstein of California and Jack Reed of Rhode Island wrote to Secretary of State Rex Tillerson on Friday asking for more details on the trademark, which Donald Trump had been seeking for more than a decade but wasn’t granted until soon after being elected president.
Feinstein has previously argued the trademark deal could violate the Constitution’s Emoluments Clause, which bars government officials from accepting gifts and payments from foreign countries.
The possibility that the government of China is seeking to win President Trump’s favor by granting him special treatment for his businesses is disturbing,” the three senators said in their letter. 
“As you may be aware, for more than a decade the Trump Organization sought to receive this trademark registration without success.”
A trademark for Trump’s brand in China, they write, “is a highly valuable commodity.” 
The senators add that Trump’s refusal to divest himself from his businesses means that he “continues to benefit directly from the financial success of the Trump Organization.”
They're asking Tillerson to provide answers to a number of questions, including information on discussions between Trump’s presidential transition team and China.
Cardin, Feinstein and Reed are the top Democrats on the Foreign Relations, Judiciary and Armed Services Committees, respectively.