US President-elect Donald Trump will hand over the day-to-day management of his multibillion-dollar portfolio of properties, hotels, golf resorts, media and licensing to his children when he enters the White House, the Trump Organization said Friday. .
Thus, an arrangement that Trump adopted in his first term will be repeated, but which, according to an ethics expert, still has conflicts of interest.
All of the president-elect’s investments, assets and economic interests will remain in a trust managed by his children, the company said. Trump will not be a member of, nor will he be appointed to, any boards, nor will he participate in day-to-day decisions, it said.
Attorney William A. Burck, global vice president at Quinn Emanuel LLP, will serve as outside ethics counsel for the Trump Organization.
“In his role as an external ethics consultant, Mr. Burck will assist the Trump Organization in developing, implementing and maintaining internal ethics policies, procedures and controls designed to avoid any perceived conflicts of interest,” the company said in a statement. communicated.
“Mr. Burck will also oversee the review of material transactions to ensure full compliance with ethical standards.”
The organization further said it “will not enter into any new material transactions or contracts with a foreign government, except for Ordinary Course Transactions.”
It was also announced that the president-elect will have limited access to the Organization’s financial information and that he will donate all profits sponsored by foreign governments, through hotels and similar businesses, to the US Treasury. The president-elect’s investments will be managed independently by external institutions.
Asked about the new agreement, Danielle Brian, executive director of the Project on Government Oversight, said: “Most of it is not new and therefore not good enough.”
The only substantial new provision, Brian said, is Trump’s promise to offer the U.S. Secret Service and other government agencies a discount when they use Trump properties. The Secret Service frequently stayed at Trump properties while providing security during Trump’s first presidential term.
“But unless the discount is so significant that there is no profit for the Trump administration, the president will still be making money by requiring the Secret Service to stay at his resorts, and that is unethical,” Brian said.
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This content was originally published in Trump will have no connection with family business while in the White House on the CNN Brasil website.
Source: CNN Brasil
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