Trump Organization’s new ethics plan pledges Donald Trump will separate himself from his private business interests
By Fredreka Schouten, CNN
(CNN) — The Trump Organization on Friday announced that President-elect Donald Trump will not have any involvement in managing his real estate and branding empire during his second term and appointed an outside ethics adviser to monitor major company actions – part of several measures the organization said it was taking to avoid conflicts of interest as Trump prepares to return to the White House later this month.
The provisions, for the most part, mirror steps announced during the first Trump administration.
Under its plan, the company pledged not to enter into any new deals with foreign governments and voluntarily donate to the US Treasury any profits from foreign governments that it can identify flowing into its hotels and other properties.
The ethics pledge, however, is silent on how the company will handle overseas business deals. And Trump’s son Eric Trump, the company’s executive vice president, has previously said that the firm will continue to pursue foreign business during his father’s second term, relaxing a self-imposed restriction that the company has said was in place during the first term.
In a statement, the Trump Organization noted that the incoming president is not required either by federal law or the US Constitution to remove himself from his business interests. Even so, Eric Trump said, the company “is dedicated to not just meeting but vastly exceeding its legal and ethical obligations during my father’s Presidency.”
He called the ethical standards announced Friday “robust.”
The younger Trump, who essentially guides the company day-to-day, also announced that prominent Republican lawyer William Burck will serve as an outside adviser to review major transactions to avoid ethics problems.
The plan unveiled Friday pledges that Donald Trump will have “limited access” to the company’s financial information. Additionally, his businesses will remain in a trust, managed by his children, and his investments will be overseen by outside financial institutions that will “neither solicit nor accept input” from Trump.
Although Trump is not required to take these steps, previous presidents have moved more aggressively to divest themselves of their businesses or place their holdings in blind trusts to avoid the appearance of self-dealing – a distinction often noted by ethics watchdogs during Trump’s political career.
And, as CNN has previously reported, the incoming president has pursued new business deals in recent months – including joining his family in a cryptocurrency venture and promoting new merchandise touting his electoral victory.
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