U.S. President-elect Donald Trump speaks after a meeting with Republicans in Congress at the U.S. Capitol building in Washington on Jan. 8, 2025.
Jeenah Moon | Reuters
The Trump Organization on Friday unveiled a new ethics plan that it says will limit President-elect Donald Trump‘s involvement in management decisions and other aspects of the business while he is in the White House.
Trump will have “limited access” to the company’s financial information, receiving only “general business updates,” according to a five-page white paper on the ethics plan shared with CNBC.
The incoming president’s investments will be held in a trust controlled by his children and “independently managed by outside financial institutions,” which will not accept his input about specific holdings or transactions, the company said.
The Trump Organization, meanwhile, declared it “will not enter into any new material transactions or contracts with a foreign government, except for Ordinary Course Transactions.”
The white paper does not specify whether the company will be able to do new business with private foreign entities.
The Trump Organization backed away from numerous foreign deals after Trump won the 2016 election, but executive vice president Eric Trump recently complained to The Wall Street Journal that he got “very little credit for it.”
The Trump Organization on Friday also said that, as it did during Trump’s first term, it will once again donate to the U.S. Treasury the profits from foreign governments at its hotels and similar businesses.
It will also offer discounted rates to members of the U.S. Secret Service and other similar government agencies that make use of the company’s hospitality properties.
“The Trump Organization is dedicated to not just meeting but vastly exceeding its legal and ethical obligations during my father’s Presidency,” Eric Trump said in a separate press release.
The company also announced it had appointed attorney William Burck as its new outside ethics advisor.
“It is an honor and privilege to work with such a great company during this unprecedented and pivotal chapter in its distinguished and storied history,” Burck, the global co-chair of law firm Quinn Emanuel LLP, said in the press release.
The Journal first reported the Trump Organization’s new policies.
Read the entire Quinn Emanuel white paper below.
Read the original article here