Trump's business companies got millions from foreign governments, Democrats say - MilectoTrump's business companies got millions from foreign governments, Democrats say - Milecto

Democrats in Congress discovered that Donald Trump’s companies, including his hotels, collected more than $7.8 million from foreign governments during his presidency. This money came in while he was in office, which sparked worries about possible conflicts of interest.

A congressional investigation revealed that throughout the presidency of Trump, his enterprises obtained in excess of $7.8 million from foreign governments, with China being the primary contributor with $5.5 million. These circumstances sparked accusations that Trump’s acceptance of these payments during his presidency violated the United States Constitution. The report surfaced from documents that his former accounting firm disclosed subsequent to a legal dispute; however, Trump refrained from commenting on these allegations.

It is a violation of the Constitution for presidents to accept gifts or benefits without the explicit consent of Congress. Even though he delegated day-to-day operations to his sons, Trump retained ownership of his businesses, most notably the Trump International Hotel in Washington, which was frequented by foreign organisations and advocates.

A number of petitions were lodged against Trump during his tenure due to conflicts of interest. However, following his loss in the 2020 election, the Supreme Court dismissed these cases in 2021, deeming them irrelevant.

A prominent Democrat, Representative Jamie Raskin has, criticised Trump, stating that the investigation revealed his prioritisation of personal gain over the interests of the Americans. The absence of legislation to prevent a president from abusing his or her position for personal financial benefit, particularly when foreign entities are involved, was highlighted in the report.

At least twenty governments were informed of Trump’s financial ties through the investigation, which raised concerns regarding possible conflicts of interest. For example, in spite of the apprehensions expressed by Congress, Trump extended support to arms deals with Saudi Arabia, which prompted inquiries into the potential impact of his financial ties on his policy formulation. Furthermore, it seems that Trump disavowed intelligence reports that established a connection between the Saudi Crown Prince and the murder of journalist Jamal Khashoggi, suggesting that his business connections may have influenced his assessment.

Saudi Arabia and China were identified in the report as significant financial backers of Trump’s enterprises, with the Saudi royal family allocating over $600,000 to his properties. This increased apprehensions regarding the impact of foreign funding on the decision-making process of Trump throughout his presidency.

Apart from China and Saudi Arabia, Qatar, Kuwait, and India were among the top five nations making payments to Trump’s properties throughout his administration, according to the research. Democrats emphasised that these results only covered Trump’s first two years in office and were based on sales from just four of his properties. They claimed that these statistics reflected just a small portion of the entire amount of money Trump’s companies received from foreign governments during his presidency.

However, the probe came to an abrupt stop when Democrats lost control of Congress in 2022, thereby ending their authority to demand more records and evidence.

Republican James Comer, who is conducting an investigation into Hunter Biden’s business transactions during his father’s vice president, dismissed the relevance of the story. He chastised Democrats for continuing to investigate Trump while claiming that, unlike the Bidens, Trump had genuine companies.

Furthermore, Trump’s tax returns, which were disclosed in 2022, revealed significant economic losses throughout his presidency. As a result, he curtailed his commercial activities, as seen by the sale of the Washington hotel to an investor group for $375 million the same year. This transaction revealed Trump Organization’s post-presidency emphasis change and financial reorganisation.

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