Newly elected Donald Trump has announced that he will be stepping away from his business interests “in total” in order to avoid the appearance of a conflict of interest once he enters the White House.
The president-elect, who has been criticised by constitutional lawyers and ethics counselors for refusing to give up ownership of his business empire, said in a series of tweets on Wednesday morning that he would hold a press conference two weeks from now to discuss the plan, but provided little detail.
“I will be holding a major news conference in New York City with my children on December 15 to discuss the fact that I will be leaving my great business in total in order to fully focus on running the country in order to MAKE AMERICA GREAT AGAIN!” the president-elect wrote.
“While I am not mandated to do this under the law, I feel it is visually important, as president, to in no way have a conflict of interest with my various businesses.”
He added: “Hence, legal documents are being crafted which take me completely out of business operations. The presidency is a far more important task!”
The 70-year-old property tycoon is estimated to be worth billions of dollars and Trump is a recognised brand name around the world. The Trump Organization owns hotels and golf resorts and businesses including a winery and modeling agency. The holdings are unprecedented for an incoming American president.
Scores of international politicians and business partners flocked to Trump Tower in Manhattan after Trump’s election, many of the meetings raising questions about how Trump could fairly work with foreign leaders who might try and curry his favor through business.
Shortly after the vote, the president-elect met with business partners from India who are building Trump hotels in the country, although he had promised to cede control of his company to his children. Dozens of foreign diplomats visited Trump’s hotel in Washington DC after the election, the Washington Post reported.
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