September, Friday 20, 2024

Report reveals that Trump's businesses obtained millions in revenue from foreign governments


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According to a report from Democrats in Congress, Donald Trump's hotels and businesses received over $7.8 million from foreign governments while he was president. China was responsible for more than $5.5 million of those payments, which Trump is accused of accepting in violation of the US constitution. The report is based on documents released by Trump's former accounting firm after a court battle. Trump has not yet commented on the findings. The US constitution prohibits presidents from accepting gifts or benefits from their position without Congress's permission. Since entering the White House in 2017, Trump, a former businessman, has faced scrutiny regarding his business dealings. While he placed his sons in charge of day-to-day operations, he maintained ownership of his businesses, including the Trump International Hotel in Washington, which became a popular spot for lobbyists, foreign delegations, and others. Numerous lawsuits alleging conflicts-of-interest were filed against Trump, but they were dismissed by the US Supreme Court in 2021 after he lost the 2020 election. Representative Jamie Raskin, a top Democrat, stated that the investigation revealed Trump's prioritization of enriching himself rather than serving the American people. Democrats argue that the payments from foreign governments compromised Trump's loyalties, as many of these governments had politically sensitive matters at stake in the US. They provide examples such as Trump's support for arms sales to Saudi Arabia, which Congress opposed due to concerns about civilian casualties, and his doubt regarding US intelligence assessments on the murder of journalist Jamal Khashoggi. Apart from China, Saudi Arabia and its royal family were the second-largest patrons of Trump's businesses, spending over $600,000 at his properties. Qatar, Kuwait, and India also ranked among the top contributors. Democrats emphasize that these findings only cover the first two years of Trump's presidency and focus on four of his properties, suggesting they represent just a fraction of the profits his businesses made from foreign governments during his time in office. In 2022, Democrats lost control of Congress, curtailing the investigation as they could no longer compel the release of documents. Republican James Comer, leading an inquiry into the business dealings of President Joe Biden's son, Hunter, during his father's vice presidency, dismissed the report's findings. He claimed that Trump's businesses were legitimate while comparing them to the Bidens' alleged lack of legitimate businesses. Trump's recently released tax records showed substantial business losses during his presidency, and he has scaled back his businesses. In 2022, the Trump Organization sold the Washington hotel to an investment group for $375 million.