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AP News Guide: Trump's business ties around the world

SeattlePI.com Wednesday, 11 January 2017
[...] many of them have no business operations and are just are shells set up to hold stakes in other companies, possibly to provide legal and tax protection. The details matter because government ethics experts note the possibility that Trump might be tempted to shape regulations, taxes and foreign policy to enrich himself or his business partners. In a tweet last month, the president-elect said that "no deals will be done" while he is in office and that he will leave management of his company to two of his children, Donald Jr., 39, and Eric, 33, along with executives. What makes the situation so perilous is that no modern U.S. president has owned so much, had it spread so far around the globe, and disclosed so little. Trump owns little overseas. Since losing nearly everything in the 1990s from a debt-fueled foray into casinos, he's preferred to take care of his money and strike royalty deals that entail little more than renting out his name. On Monday, after he was appointed a senior adviser to Trump, Kushner promised to step down from that role and sell some assets to comply with federal ethics laws. In Indonesia, he struck a deal for use of his name and management services for a resort and residential building in Bali owed by the MNC Group, a real estate company run by a politically active businessman, Hary Tanoesoedibjo. Trump faced criticism after India's Economic Times reported that he held a meeting at Trump Tower in Manhattan shortly after the election with business partners in one of two Indian ventures, two residential towers in Pune in the western part of the country. Among many other properties, Trump also has investments in a Chicago hotel and one in Las Vegas and, of course, the new Trump International Hotel in Washington D.C. In the case of the latter, he doesn't own the building, but rents it from the federal government. Trump has been busy adding to his portfolio of golf properties in rece
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Source: CBS News - < > Embed

News video: How Trump is handling his business ties, according to his attorney

How Trump is handling his business ties, according to his attorney 14:21

Donald Trump's attorney explains how the president-elect is turning over his business to a trust run by his sons, but he won't divest. Watch Trump's tax attorney, Sheri Dillon, lay out the details.

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