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Donald Trump has a bank account in China

Donald Trump has a bank account in China
21 October 2020 | post Constitutional Court, Current News, Events, Court / Prosecutor’s Office / Szeged Judgment Board, Pictures of Life / tabloid, EU Press Room, europarl.europa.eu/news/en, europarl.hu, Chattering News, Editor-in-Chief’s Blog, Public Life, Culture, Hungarian Helsinki Committee, Szeged Tribunal, White House
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U.S. President Donald Trump has a bank account in China and has been trying for years to do business with the country while publicly disliking it as China’s opponent, the New York Times wrote citing tax records.

The revelation of the facts could discredit the efforts of Donald Trump, who accuses Democratic presidential candidate Joe Biden of pursuing too lenient a policy against China, the NYT noted.

An analysis of Donald Trump’s tax records revealed that the president has a Chinese bank account that was not on his public financial statements because it was opened in the name of Trump International Hotels Management. The company paid $ 188,561 (more than $ 36 million) in taxes in the country between 2013 and 2015. The president also has bank accounts in the UK and Ireland.

Donald Trump even opened an office in China before he was elected president in the hopes of expanding into the real estate market there. He also maintained the office during his presidency, while trying to reach an agreement with an important Chinese state-owned company.

Alan Garten, a lawyer for the Trump Group, indicated that the account was opened solely for tax purposes.

No business, transaction or other commercial activity has taken place and the office has been inactive since 2015

He told the New York Times, adding that the bank account would continue to be maintained, never used for any other purpose.

Donald Trump declared a trade and diplomatic war against China, claiming that he was the only real defender of American interests against the Asian giant because Biden’s son was doing business in the country. At the same time, the Democratic presidential candidate has no interest in China according to the tax records, the New York Times noted.

In a previous fact-finding article in the daily, he reported that Donald Trump had only paid tax for five years between 2000 and 2015 because in the remaining ten years, his companies had made more losses on paper than profits. In the first year of his election as president, he paid only $ 750 (approximately $ 230,000) in taxes.

fecsego.eu/index.hu

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