US President Donald Trump's own business history is filled with overseas financial deals, and some have involved the Chinese state.
He 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 British and Irish accounts are held by companies that operate Mr Trump’s golf courses in Scotland and Ireland, which regularly report millions of dollars in revenue from those countries.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.
China continues to be an issue in the 2020 presidential campaign, from the president’s trade war to his barbs over the origin of the coronavirus pandemic. Numerous news articles and fact-checking sites have explained that the huge figure was actually a fundraising goal set by an investment firm in which Hunter Biden obtained a 10 per cent stake after his father left office.The firm did receive financial backing from a large state-controlled bank, but it is not clear the fundraising target was ever met, and there is no evidence Hunter Biden received a large personal payout.
His efforts go at least as far back as 2006, when he filed trademark applications in Hong Kong and the mainland.In 2008, Mr Trump pursued an office tower project in Guangzhou that never got off the ground. But his efforts accelerated in 2012 with the opening of a Shanghai office, and tax records show that one of Mr Trump’s China-related companies, THC China Development LLC, claimed USD$84,000 in deductions that year for travel costs, legal fees and office expenses.
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