A shadowy $2 million payment that President Donald Trump reported on his recent financial disclosure raised new questions about Trump’s efforts to profit from the presidency.
The New York Times reported on Tuesday that Trump’s holding company received a $2 million payment from a South Korean business that is under investigation by Trump’s trade authorities. While the payment represents a small fraction of the $125 million holding company, the Times noted that it illustrated the breadth of financial “entanglements” that Trump has with foreign governments.
“Still, the financial ties between the president and the South Korean company illustrate the minefield Mr. Trump has created by maintaining personal financial ties with nearly 30 different business ventures with foreign counterparts worldwide — unlike any other president in modern American history,” the report reads in part.
“And it demonstrates how Mr. Trump is now benefiting from deals with foreign companies whose fortunes are affected by the decisions of his administration,” the report added.
Even though a Trump administration spokesperson told The Times there was no “conflict of interest” in the payment, some experts raised concerns.
“I never encountered anything like this,” Peter J. Wallison, who served as White House counsel during the Reagan administration, told The Times. “It just creates conflicts of interest, and it makes it difficult for a president to make decisions, or it might affect his decisions, and that is problematic.”