The New York Times reports:
It turns out that China is one of only three foreign nations — the others are Britain and Ireland — where Mr. Trump maintains a bank account, according to an analysis of the president’s tax records, which were obtained by The New York Times. The foreign accounts do not show up on Mr. Trump’s public financial disclosures, where he must list personal assets, because they are held under corporate names. The identities of the financial institutions are not clear.
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. Mr. Garten would not identify the bank in China where the account is held. Until last year, China’s biggest state-controlled bank rented three floors in Trump Tower, a lucrative lease that drew accusations of a conflict of interest for the president.
Read the full article.
— Mike McIntire (@mmcintire) October 20, 2020
New tax story from the NYT
Trump Records Shed New Light on Chinese Business Pursuits
As he raises questions about his opponent’s standing with China, Trump’s taxes reveal details about his own activities there, including a previously unknown bank accounthttps://t.co/MLdn0QcSAA
— Yashar Ali 🐘 (@yashar) October 20, 2020