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Donald Trump maintains a bank account in China, where he has been trying to do business for years, reveals the New York Times.
Tax records examined by the newspaper show a previously unknown bank account in China, which is managed by Trump International Hotels Management. It is one of three Trump accounts outside of the US, as well as Britain and Ireland.
According to the NYT, Trump paid $ 188,561 in taxes in China, from 2013 to 2015, on potential licensing deals. It is recalled that in a previous report the newspaper revealed that Trump paid only $ 750 in taxes in the United States in 2016 and 2017.
Tax figures also show that Trump has invested at least $ 192,000 in five companies seeking trade deals in China. These companies have reported $ 97,400 in expenses since 2010, an amount that includes small amounts for taxes, but also fees through 2018.
For a decade, Donald Trump pursued unsuccessful business plans in China, had an office there during his first election campaign, and tried to work with a state-controlled company.
All of this is revealed as Donald Trump claims in the campaign for his re-election that he has the ability to stand his ground in China, be it trade or responsibilities for the spread of the coronavirus. He also accuses Joe Biden of being weak against China, but also of his opponent’s family that he is “selling our country” in China.
In fact, Trump’s campaign candidate has been targeted by Hunter Biden, the son of the Democratic candidate, whom the president’s “camp” accuses of a billion-dollar deal with the Bank of China, when his father was vice president. from the United States. Complaints that have not been confirmed.
Trump moves in China
In 2008, Donald Trump was working on a project for an office skyscraper in Guangzhou, a plan that never materialized. In 2012, his business efforts intensified in China and he opened offices in Shanghai.
He then tried to work with the state-owned State Grid Corporation. A report by Agence France-Presse in 2016 stated that this collaboration concerned the licensing and management of a large project in Beijing. Trump reportedly sought the deal even as he was months into his first White House campaign. However, the plan was eventually abandoned when the company was examined by the Chinese authorities.
Trump Organization attorney Alan Garten told the NYT that the company opened an account with a Chinese bank to pay taxes related to attempting to do business in the country.
He noted that the account was opened after the establishment of offices in China, for “possible hotel deals in Asia.” “No agreement, transaction or other business activity has ever been implemented and since 2015 the office has been inactive,” Garten said. “Although the account remains open, it has never been used for any other purpose,” he added.
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