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US President Donald Trump has a bank account in China and has been trying for years to do business with the country without publicly liking that he is China’s opponent, the New York Times wrote, citing tax records.
The disclosure of the facts could discredit the efforts of Donald Trump, who accuses Democratic presidential candidate Joe Biden of pursuing an overly lenient policy against China, the NYT noted.
An analysis of Donald Trump’s tax records revealed that the president has a Chinese bank account that is not listed in his public financial statements because it was opened in the name of Trump International Hotels Management. The company paid $ 188,561 (more than $ 36 million) in taxes in the country between 2013 and 2015. The president also has bank accounts in the UK and Ireland.
Donald Trump even opened an office in China before being elected president in hopes of expanding into the real estate market there. He also held the post during his presidency, while trying to reach an agreement with a major Chinese state-owned company.
Alan Garten, an attorney for Trump Group, said the account was opened solely for tax purposes.
No business, transaction or other commercial activity has taken place and the office has been inactive since 2015
He told the New York Times, adding that the bank account would continue to be maintained, never be used for any other purpose.
Donald Trump declared a trade and diplomatic war against China, claiming that he was the only true defender of American interests against the Asian giant because Biden’s son was doing business in the country. At the same time, the Democratic presidential candidate has no interest in China according to tax records, the New York Times noted.
In a previous investigative article in the newspaper, the newspaper reported that Donald Trump had only paid taxes for five years between 2000 and 2015 because in the remaining ten years, his companies had made more losses on paper than profits. In the first year of his election as president, he paid only $ 750 (approximately $ 230,000) in taxes.
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