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World of Influence a Guide to Trump’S Foreign Business Interests

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World of Influence A Guide to Trump’s Foreign Business Interests Anna Massoglia and Karl Evers-Hillstrom June 4, 2019 A Center for Responsive Politics Report Contents Introduction ................................................................................................................................................... 2 Argentina ..................................................................................................................................................... 3 Azerbaijan ................................................................................................................................................... 3 Bermuda ...................................................................................................................................................... 5 Brazil ............................................................................................................................................................ 5 Canada ......................................................................................................................................................... 6 China ............................................................................................................................................................ 7 Dominican Republic .................................................................................................................................. 10 Georgia ....................................................................................................................................................... 10 India ........................................................................................................................................................... 11 Indonesia .................................................................................................................................................... 12 Ireland ........................................................................................................................................................ 13 Israel ........................................................................................................................................................... 14 Mexico ........................................................................................................................................................ 15 Panama ...................................................................................................................................................... 15 Philippines ................................................................................................................................................. 16 Qatar .......................................................................................................................................................... 16 Russia ......................................................................................................................................................... 18 Saudi Arabia .............................................................................................................................................. 20 Scotland ...................................................................................................................................................... 21 South Korea ............................................................................................................................................... 23 St. Martin ................................................................................................................................................... 23 St. Vincent .................................................................................................................................................. 24 Turkey ........................................................................................................................................................ 24 United Arab Emirates ............................................................................................................................... 25 Uruguay ..................................................................................................................................................... 26 Other Countries ........................................................................................................................................ 27 1 Introduction Two years into his presidency, Donald Trump continues to make money from properties and licensing deals in nearly two dozen countries around the world, fanning the flames of concerns that the Trump administration is subject to unprecedented levels of foreign influence. Trump continued to hold more than $130 million in foreign assets in a revocable trust as his second year in office came to a close, according to OpenSecrets’ analysis of the president’s most recent annual personal financial disclosure released by the Office of Government Ethics last month. Trump’s business entanglements continue to leave him with positions, assets, trademarks and other business interests in more than 30 countries. Annual disclosure forms only require assets held at the end of the reporting period to be disclosed and require only minimal documentation of transactions. Income and property values are also often listed in wide ranges so the total amount may, in actuality, be much higher or lower. When it comes to foreign properties, the Trump Organization often charges a licensing fee to put the Trump name on the building and in some cases agrees to manage the property in exchange for a cut of the profits. This business model allows Trump to put his name on as many hotels and golf courses as possible while mitigating risk. Trump transferred control of the family-owned company to his adult children, who he said would pursue “no new deals” during his time in the Oval Office. Although the Trump Organization ended some proposed deals around the world, it has opened several new properties since 2017, with several providing direct income to Trump. Trump’s sprawling web of foreign properties and investments, which includes some projects completed during his presidency or still under development, reveals a litany of apparent efforts by foreign business leaders and governments to gain influence with the leader of the free world. Some of the developers behind Trump-branded projects are under scrutiny for exploitative business practices. In many of these countries, developers work in close proximity to political power and wealthy businessmen have outsized influence with the government. In addition to foreign-based business interests, Trump properties in the U.S. have also raked in considerable sums from foreign clientele. Foreign actors looking to influence U.S. policy in several cases have coupled foreign influence efforts with visits to Trump properties. The Trump Organization pledged to contribute all profits from foreign governments to the U.S. Treasury. In February, the company announced it had contributed $191,538 in foreign profits to 2 the U.S. Treasury. Details of how that number is calculated have been kept under wraps and the comparably small sum donated to the Treasury raise questions about what is and isn’t included in that number. For example, Saudi Arabia’s government alone spent more at Trump International Hotel in the four months after Trump won the presidency than the entire Trump Organization donated to cover foreign profits either year. Several groups have filed lawsuits alleging Trump has violated the Emoluments Clause, a section of the Constitution that restricts members of the government from receiving gifts or other benefits from foreign states or leaders without permission from Congress. Argentina Trump has decades of history with Argentine President Mauricio Macri, including a hot and cold business relationship. Macri’s father, Franco, reportedly tried to buy a majority share in one of Trump’s Manhattan real estate projects in 1979 and ended up losing tens of millions when the deal fell through. According to a book written by Franco Macri, Trump threw a tantrum after losing a golf game to his son in the heat of those negotiations and broke his rival’s golf clubs one by one. When Macri was kidnapped and held for ransom in 1991, his father briefly speculated that Trump may have been the “true intellectual author” of the crime. Trump made his “debut” in South America’s real estate market in 2012 with a project in Uruguay reportedly financed by Argentine investors. Trump Organization spokespeople said that their goal was to “bring the Trump brand to Buenos Aires.” In Trump’s first call with Macri following the election in November 2016, Trump reportedly asked the Argentine leader to “deal with the permitting issues that are currently holding up” development of a building in Buenos Aires, a claim spokespeople for the former business partners turned world leaders have denied. Trump’s business partner on the project, Felipe Yaryura, attended Trump’s election night victory celebration at Trump tower in New York City. Azerbaijan Trump International Hotel & Tower Baku never opened and likely never will, as the empty building was badly damaged in an April 2018 fire. That did not, however, stop Trump from reportedly raking in millions of dollars from the hotel. 3 The 33-story tower stands out, both as a unique structure planted in a marooned downtown neighborhood and as perhaps one
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