Trump maintained Majority Ownership in the Trump Businesses when he took Office, maintained a Stake in Trump Tower, and with it, a Financial Connection to the Chinese Government. He has in fact Collected Millions of Dollars from Government-Owned Entities in China. Estimates of at-least $17 Million and $5.2 Million since in the White House, has Flowed into the President’s Business from a Lease Agreement involving a State-Owned Bank in Trump Tower, New York.
The Industrial and Commercial Bank of China Signed a Lease for Space in 2008, years before the Trump took Office, Paying about $1.9 Million in Annual Rent. When Trump moved to the White House in 2017, he held onto Ownership of the Retail and Office Space in the Building, through his 100% Interest in an Entity called Trump Tower Commercial LLC.
That put Trump in an Unusual Position, given that Government-owned Entities in China hold at least 70% of the Industrial and Commercial Bank of China. Suddenly, a Routine Real Estate Deal became a Conduit for a Foreign Superpower to Pay the President of the U.S.
The Arrangement posed Legal concerns, since the U.S. Constitution Prohibits Federal Officials from Accepting “any present, emolument, office, or title, of any kind whatever, from any king, prince, or foreign state” without Congressional Approval. Ethics Experts, who have often Focused on Trump’s Hotel in Washington, D.C., argued that the President would be in Violation of the Constitution’s Emoluments Clause from the moment he took office.
The Lease was set to Expire on October 31st, 2019, according to a Debt Prospectus filed with the Securities and Exchange Commission. In 2018, the State-Owned Bank agreed to a New Lease in a Different Office Building nearby, suggesting it might leave Trump Tower. But then, the Bank decided to Stay in the Trump’s Building anyway. “They are keeping a couple of floors,” Eric Trump Confirmed Onstage at a Business Conference in October 2019.
The New Arrangement is somewhat Murky. A Spokesperson for the Trump Organization initially said that the Bank had “consolidated with their other offices in New York.” But then the Spokesperson seemed to Confirm that the Chinese Bank was in fact Maintaining Space in the Building: “They’ve exited the vast majority of their space in Trump Tower.” The Website for the Industrial and Commercial Bank of China still Lists an Address inside Trump Tower.
Trump has other Financial Connections to China. Trump has a Bank Account in China, used for his Agent to perform Real Estate Deals and Paid Yearly Business Tax until recently. The Account still exists but is now Inactive.
His Daughter, Ivanka Trump, received 41 Chinese Trademarks from the Time she was Appointed a White House Adviser in March 2017 to April 2019. The Review also showed that the Trademarks Ivanka Applied for after Trump's Inauguration got Approved about 40% Faster than those she sought Beforehand.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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