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According to CNN, the revelations deal a blow to President Donald Trump’s attempt to show that Democratic candidate Joe Biden is soft on China.
The New York Times (NYT) analysis of President Trump’s tax records shows that he has a bank account in China that has not been previously reported and is not included in President Trump’s public financial disclosures. because it is kept in the name of the company. President Trump also has bank accounts in the UK and Ireland.
The newspaper said that the Chinese account is controlled by Trump International Hotels Management (hotel and resort business …) and has paid $ 188,561 in taxes in the country from 2013 to 2015.
Tax returns do not show money transferred through President Trump’s overseas accounts, while the Internal Revenue Service requires taxpayers to disclose some of their foreign income. Trump International Hotels Management reported only a few thousand dollars from China.
Trump Organization lawyer Alan Garten, who declined to name the Chinese bank that held the account, told the Times in a statement that the Trump Organization “opened an account at a Chinese bank with an office in the United States to pay. local taxes “linked to the promotion of businesses in the country”.
President Donald Trump. Photo: UK News Network
In particular, lawyer Garten said the company opened an account after opening an office in China “to explore the potential for hotel deals in Asia.”
“There are no transactions or other business activities and since 2015, the office is still inactive,” Garten told the NYT newspaper. “Although the bank account remains open, it has never been used for any other purpose.”
President Trump’s tax returns show he has invested at least $ 192,000 in five companies founded to carry out projects in China over the years, according to the NYT.
The newspaper also said that since 2010, businesses have incurred expenses of at least $ 97,400, a small portion paid taxes, and the remainder is the most recent accounting fees in 2018.
New details compiled from President Trump’s tax records based on an earlier report from this newspaper.
Trump is seen as a tough man on China and in a statement he will bring 10 million jobs to Americans and end dependence on China’s supply chains.
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