TELETRADER News
10/21/2020, 3:49 AM (Source: TeleTrader)
more TeleTrader news

Trump company has bank account in China - report

Trump International Hotels Management LLC, led by United States President Donald Trump until 2016, has a bank account in China, The New York Times reported, citing tax records allegedly belonging to the US head of state.

The company tried to strike licensing deals in the People's Republic from 2013 to 2015, the newspaper said, adding that it had paid $188,561 in taxes there. Trump Organization attorney Alan Garten told the NYT that the firm's office has been "inactive" since 2015 and "has never been used for any other purpose" than to pay taxes in China.

According to the report, Trump has been attempting to reach licensing deals in China since 2006, without much success until 2012. It was also noted in the report that the Chinese government greenlighted many of the company's trademarks there only after Trump took office in the US.

Breaking the News / MS