Current:Home > ContactEthermac Exchange-Trump's businesses got at least $7.8 million in foreign payments while he was president, House Democrats say -TradeWise
Ethermac Exchange-Trump's businesses got at least $7.8 million in foreign payments while he was president, House Democrats say
PredictIQ View
Date:2025-04-10 14:04:24
Washington — Donald Trump's businesses received at least $7.8 million in payments from foreign governments and Ethermac Exchangegovernment-backed entities from 20 countries while he was in the White House, according to a new report by House Democrats.
Drawing upon 451 pages of documents received from Trump's longtime accounting firm Mazars and a federal agency, Democratic staffers on the House Oversight Committee on Thursday issued their 156-page report entitled "White House for Sale: How Princes, Prime Ministers, and Premiers Paid Off President Trump."
The records, the report said, "demonstrate that four Trump-owned properties together collected, at the least, millions of dollars in payments from foreign governments and officials." The Democrats alleged these payments violated what's known as the Constitution's Foreign Emoluments Clause, which prohibits federal officials from accepting gifts or other benefits from foreign countries without congressional approval.
"This report sets forth the records showing foreign government money — and all the spoils from royals we can find — pouring into hotels and buildings that the President continued to own during his presidency, all in direct violation of the Constitutional prohibition," said Rep. Jamie Raskin of Maryland, the top Democrat on the committee.
The Democrats noted that they had access to a limited number of financial documents and that "the foreign payments to President Trump identified in this report are likely only a small fraction of the total amount of such payments he received during his presidency."
Where the payments came from
The Democratic report focuses on payments to four Trump-controlled businesses: the Trump hotels in Washington, Las Vegas and New York, and Trump Tower in Manhattan.
While Trump turned over day-to-day operations of his businesses to his sons when he entered the White House in 2017, he declined to divest his assets and retained "personal ownership and control of all his businesses, as well as the ability to draw funds from them without any outside disclosure," the report alleged. This arrangement, Democrats said, "reinforced (rather than severed) his ties to his businesses and enabled him to prioritize his personal interests over those of the nation."
During his presidency, the Trump International Hotel in Washington attracted many foreign diplomats and dignitaries hoping to mingle with Trump allies and administration officials. According to Trump's financial disclosure reports from when he was president, he earned more than $40 million from the D.C. hotel in 2017, and $40.8 million the following year.
Despite Trump's frequent criticism of China and insistence that the country was taking advantage of the U.S., the majority of foreign payments included in Thursday's report came from the Chinese government and two state-owned entities.
The payments totaled nearly $5.6 million at properties including Trump Tower, and the Trump International Hotels in Washington and Las Vegas, the report found. The bulk of the payments came from the state-owned Industrial and Commercial Bank of China, which paid $5.35 million in rent for space in Trump Tower from February 2017 to October 2019.
The nation that spent the second-most at the Trump properties, according to the report, was Saudi Arabia. The Saudi government spent more than $615,000 at Trump World Tower in New York and the Trump hotel in Washington from 2017 to 2020.
The report noted that Trump praised Saudi Arabia and mentioned "his transactional relationships" with the kingdom before taking office. During an August 21, 2015, rally in Alabama, Trump said Saudi nationals had spent millions of dollars on his apartments.
"Saudi Arabia, I get along great with all of them. They buy apartments from me. They spend $40 million, $50 million," he said. "Am I supposed to dislike them? I like them very much!"
The report said that Trump "oversaw several highly consequential decisions on a range of issues involving U.S. policy towards Saudi Arabia" while his businesses were receiving payments from the Saudi government. The Democrats noted Trump's response to the 2018 death of Washington Post columnist and Saudi dissident Jamaal Khashoggi, in which he publicly doubted the conclusion of the intelligence community that the Saudi crown prince had ordered his killing.
Qatar follows Saudi Arabia's spending, with $465,744 spent at Trump World Tower. Nearly all of the remaining payments, from countries including Kuwait, India, Malaysia, Afghanistan, the Philippines and the United Arab Emirates, occurred at the Trump International Hotel in Washington.
The fight over emoluments
Trump's business dealings as president were the subject of three major court cases while he was in office, the first of which was filed in 2017. The cases, brought by Democratic lawmakers, several states and an oversight group, were the first legal battles over the Emoluments Clause, but failed to resolve questions about the definition of an "emolument" or the scope of constitutional provision. The Supreme Court dismissed two of them once Trump left office and declined to review the third.
The Trump campaign didn't immediately respond to a request for comment on the new report. Trump dismissed the "phony Emoluments Clause" and concerns about his business dealings in 2019.
The Trump Organization has said it voluntarily donated proceeds from foreign governments to the U.S. Treasury every year from 2018 to 2021. In 2017, the Trump Organization said it would rely on foreign representatives to self-report if they were paying a Trump company for something in their official capacity.
The company said it donated $191,538 in foreign payments in 2019, $105,465 in 2020 and $10,577 in 2021.
Kathryn WatsonKathryn Watson is a politics reporter for CBS News Digital based in Washington, D.C.
veryGood! (54455)
Related
- Travis Hunter, the 2
- Costco sells $100 million in gold bars amid inflation fears
- The title of Bill Maher’s new book promises “What This Comedian Said Will Shock You”
- One fourth of United Methodist churches in US have left in schism over LGBTQ ban. What happens now?
- Meta releases AI model to enhance Metaverse experience
- Shohei Ohtani’s contract with the Dodgers could come with bonus of mostly avoiding California taxes
- Are you playing 'Whamageddon'? It's the Christmas game you've probably already lost
- One fourth of United Methodist churches in US have left in schism over LGBTQ ban. What happens now?
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- One fourth of United Methodist churches in US have left in schism over LGBTQ ban. What happens now?
Ranking
- B.A. Parker is learning the banjo
- NCAA, states ask to extend order allowing multiple-transfer athletes to play through spring
- Snowball Express honors hundreds of families of fallen veterans
- Body of sergeant killed when US Air Force Osprey crashed off the coast of Japan is returning home
- In ‘Nickel Boys,’ striving for a new way to see
- NOT REAL NEWS: A look at what didn’t happen this week
- Indianapolis police chief to step down at year’s end for another role in the department
- Hailee Steinfeld Has Pitch-Perfect Gift Ideas For Everyone On Your List
Recommendation
US appeals court rejects Nasdaq’s diversity rules for company boards
New Mexico names new Indian Affairs secretary amid criticism
Argentine President Javier Milei raffles off his last salary as lawmaker
US homelessness up 12% to highest reported level as rents soar and coronavirus pandemic aid lapses
Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
Ex-Synanon members give rare look inside notorious California cult
NCAA, states seek to extend restraining order letting transfer athletes play through the spring
John Oates speaks out following Hall & Oates partner Daryl Hall's lawsuit against him