Donald Trump doesn’t like China. But he doesn’t mind using wealthy Chinese nationals to fund his Trump Tower — neither does Jared Kushner, who is married to Trump's daughter Ivanka.
The New York Times reports Kushner is “nearing agreement on a joint venture” with a Chinese financial firm.
The company, Anbang Insurance Group, has “estimated assets of $285 billion and an ownership structure shrouded in mystery,” the Times added. It's a company that’s trying to take over U.S. hotels, according to Forbes.
The said deal involves the redeveloping of a tower at 666 Fifth Avenue, which is owned by the Kushner family.
Obviously, the negotiations are prompting concerns since Kushner is not just Trump’s son-in-law; he is also believed to be the most influential adviser in the incoming administration, especially in matters pertaining to foreign policy.
Kushner has also “hired a leading Washington law firm, WilmerHale, to advise him on how to comply with federal ethics laws” if he chooses to pursue the position of Trump’s foreign policy adviser.
“The Anbang talks, which have not previously been reported, began roughly six months ago — ‘Well before the president-elect’s victory,’ Mr. Kushner’s spokeswoman, Risa Heller, noted,” according to the Times. “That was, however, just as Mr. Trump clinched the Republican nomination. While the talks are far along, representatives for Mr. Kushner said some points remained unresolved. Ms. Heller declined to outline the financial terms under discussion.”
Trump and many of his prospective cabinet members have a long list of conflicts of interest. However, the real estate mogul has expressed, on several occasions, that it doesn’t bother him in the least.
Prior to the election it was well known that I have interests in properties all over the world.Only the crooked media makes this a big deal!— Donald J. Trump (@realDonaldTrump) November 22, 2016
It is important to mention here that Trump pledged on the campaign trail that he would “drain the swamp” — a promise to kick out wealthy elites from the administration while ordinary citizens suffered — but considering the number of businessmen in his potential cabinet, it’s pretty much clear that Trump doesn’t plan on following through his promise.
Banner and thumbnail credit: Reuters, Mike Segar