The Trump family business has released a voluntary ethics agreement that allows it to engage in deals with private foreign companies, potentially opening the door for outside actors to seek influence with the new administration. This move represents a departure from President-elect Donald Trump's first term, as the agreement now permits deals with private companies abroad while barring direct deals with foreign governments.
The Trump Organization has committed to several safeguards aimed at preventing private financial interests from shaping policy, including hiring an outside ethics adviser to vet deals. The company has recently struck deals for hotels and golf resorts in Vietnam, Saudi Arabia, and the United Arab Emirates, raising concerns among government ethics experts about potential conflicts of interest.
The organization has expressed interest in expanding its business ventures in Israel and other countries, including involvement in businesses with publicly traded stock that could benefit from foreign investments. To address potential conflicts, the Trump Organization has hired an ethics adviser to review deals that may pose conflicts with public policy.
The ethics agreement also limits Trump's involvement in day-to-day decision-making at the Trump Organization, restricts the sharing of financial information, and commits the company to donate profits from foreign government spending at its properties to the U.S. Treasury.
While U.S. law prohibits federal government officials from holding financial interests that could influence public policy, presidents are exempt from this restriction. However, past presidents have voluntarily agreed to adhere to these rules, a step that Trump did not take during his first term.
In his initial presidency, Trump faced criticism for potential conflicts of interest, including attempts to host a G-7 meeting at his Florida golf resort and concerns about his Washington D.C. hotel becoming a hub for lobbyists and foreign diplomats. The sale of the hotel and subsequent legal actions regarding the emoluments clause have raised further scrutiny on Trump's business dealings.
With the Trump Organization's expansion into new ventures, such as the Trump Media & Technology Group and World Liberty Financial, concerns have been raised about potential conflicts of interest and the influence of foreign investments. The company's involvement in cryptocurrency trading has also sparked controversy, given Trump's previous skepticism about unregulated crypto assets.
As the Trump Organization continues to pursue business opportunities globally, questions remain about the potential impact on U.S. policy and the need to address conflicts of interest to ensure transparency and ethical governance.
