Report: Tax records show Trump tried to land China projects – By Associated Press (Detroit News) / Oct 21 2020
Washington — President Donald Trump spent a decade unsuccessfully pursuing projects in China, operating an office there during his first run for president and forging a partnership with a major government-controlled company, The New York Times reported Tuesday.
China is one of only three foreign nations – the others are Britain and Ireland – where Trump maintains a bank account, according to a Times analysis of the president’s tax records. The foreign accounts do not show up on Trump’s public financial disclosures, where he must list personal assets, because they are held under corporate names.
The Chinese account is controlled by Trump International Hotels Management LLC, which the tax records show paid $188,561 in taxes in China while pursuing licensing deals there from 2013 to 2015.
In response to questions from The Times, Alan Garten, a lawyer for the Trump Organization, said the company had “opened an account with a Chinese bank having offices in the United States in order to pay the local taxes” associated with efforts to do business there. He said the company had opened the account after establishing an office in China “to explore the potential for hotel deals in Asia.”
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