A report from Democrats on the House Oversight Committee reveals that former President Trump’s businesses received at least $7.8 million from foreign entities across 20 countries, raising concerns about potential violations of the constitutional emoluments clause. This clause prohibits U.S. officials, including the president, from receiving profits or gains from foreign governments due to their position.
The bulk of these payments, approximately $5.6 million, originated from China. These funds were primarily directed to Trump’s hotels in Washington and Las Vegas, and Trump Tower in New York. The report indicates that China’s Embassy in the U.S. and the state-affiliated Industrial and Commercial Bank of China (ICBC), which spent $5.4 million on a lease at Trump Tower, were among the Chinese government sources.
The report also notes transactions with other Chinese companies, such as CEFC, a private Chinese energy firm that spent over $5 million on an apartment in Trump World Tower. While these dealings might not breach the emoluments clause, they have been subject to scrutiny.
Saudi Arabia and Qatar were also significant patrons of Trump’s businesses, spending more than $615,000 and $460,000, respectively. Trump’s dealings with Saudi Arabia gained attention as the country sought a $100 billion arms deal with the U.S.
Oversight Committee Republicans have dismissed the report, contrasting Trump’s legitimate businesses with the Biden family’s foreign dealings. However, a Washington Post fact check found that the Biden family’s earnings from foreign business totaled around $7.5 million, largely going to Hunter Biden, and involved legitimate business activities or investments.
The report also demonstrates limitations in obtaining a complete record of Trump’s foreign dealings. Key records were either not provided or not retained by Mazars, Trump’s accounting firm. The firm was released from providing these records by GOP leadership, despite a court battle to obtain them. This decision was criticized by committee Democrats, who argue that the uncovered transactions likely represent only a fraction of the total foreign spending on Trump’s businesses.
An earlier review this year documented Trump’s failure to disclose over $250,000 in gifts from foreign governments, further underscoring concerns about his financial dealings while in office.
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