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According to a media report, US President Donald Trump has pursued business interests in China for years and still has a bank account in the People’s Republic. The “New York Times” reports and relies on tax documents.
The bank account does not appear on publicly available listings of Trump’s personal assets, according to the report, as it is under the company name Trump International Hotels Management. The hotel company is also said to have operated an office in China during its 2016 presidential bid to “explore the potential for hotel deals in Asia,” Alan Garten, a lawyer for the Trump Organization, told the New York Times. The company is said to have cooperated closely with a large company controlled by the Beijing government. Trump’s hotel company paid taxes worth more than $ 188,000 in China between 2013 and 2015 and conducted license negotiations there.
In the past, Trump has repeatedly criticized American companies doing business in China. Under his slogan “America First”, the president had already launched an election campaign in 2016 with strong anti-China rhetoric and described the People’s Republic as the greatest threat to the United States and the Western democratic system. Trump’s tenure so far has been shaped by the trade conflict with Beijing and the president’s actions against Chinese tech companies. In addition, he repeatedly accuses his Democratic rival Joe Biden of a weak attitude towards Beijing in the election campaign.
Trump’s office in China should no longer be active
The lawyer for the entire Trump organization, Alan Garten, told the newspaper that the bank account was opened at a Chinese bank with branches in the United States to be able to pay taxes in China. Since 2015, however, “there have been no agreements, transactions or other commercial activities” at the Trump company in China. The company’s China office is also inactive.
The newspaper also reported on accounts in the UK and Ireland. These went through companies that operate Trump’s golf courses in Scotland and Ireland. It is not clear how much money has passed through the foreign accounts.
The New York Times previously reported that Trump only paid $ 750 in federal income taxes in the US in 2016 and 2017, despite the former businessman always bragging about his wealth. Presidential candidates generally publish their tax returns during election campaigns. Trump hasn’t done this so far and justifies it with the fact that the tax authorities reviewed his books. Biden had released his tax return on a voluntary basis. They indicated that there are no trade relations with China.
