Chinese State Bank Rent at Trump Tower

2019-10-31

Chinese State Bank Rent at Trump Tower

unresolved

Promised: 2017-01-11At Trump's January 2017 press conference, counsel for the Trump Organization said the arrangement would isolate him from the business, bar new foreign deals and donate foreign-government hotel profits to the Treasury.Open cited record · 2 sources
The record: 2019-10-31The House report estimates rent from the state-owned bank using an SEC-filed debt prospectus and states the no-variable-adjustment assumption.Open cited record · 1 source2024-01-04The House report concluded that its Mazars-derived records captured only two years of the presidency and four Trump businesses, so the full amount and final profit reconciliation remained unavailable.Open cited record · 2 sources
Who gained: Trump Tower Commercial LLC
Trump Tower Commercial LLC
Who paid: United States public
Industrial and Commercial Bank of China
Audit finding: unresolved
The available records document foreign-government-linked spending at a business in which Trump retained a beneficial interest, but they do not establish a policy exchange or permit a complete reconciliation of payments, profit and Treasury donations.
Causal strength: not established

Evidence chronology

promise2017-01-11documented
At Trump's January 2017 press conference, counsel for the Trump Organization said the arrangement would isolate him from the business, bar new foreign deals and donate foreign-government hotel profits to the Treasury.
- Time: Read a Transcript of Donald Trump's Press Conference on Conflicts of Interest2017-01-11 · Sheri Dillon remarks: no new foreign deals, limited information rights, compliance counsel, and donation of foreign-government hotel profits
- U.S. House Committee on Oversight and Government Reform: Oversight Committee Requests Documents on Trump Organization's Treatment of Foreign Government Payments2017-04-21 · Bipartisan committee letter describing the January pledge and requesting implementation records
Open underlying ledger entry
action2019-10-31documented
The House report estimates rent from the state-owned bank using an SEC-filed debt prospectus and states the no-variable-adjustment assumption.
- U.S. House Committee on Oversight and Accountability Democratic Staff: White House for Sale: How Princes, Prime Ministers, and Premiers Paid Off President Trump2024-01-04 · Mazars-derived payment ledgers; country and property sections; report pages 1-156
Open underlying ledger entry
outcome2024-01-04documented
The House report concluded that its Mazars-derived records captured only two years of the presidency and four Trump businesses, so the full amount and final profit reconciliation remained unavailable.
- Roll Call: House Democratic report highlights Trump foreign payments2024-01-04 · Summary of the Mazars-based House report and its two-year/four-business scope
- U.S. House Committee on Oversight and Accountability Democratic Staff: White House for Sale: How Princes, Prime Ministers, and Premiers Paid Off President Trump2024-01-04 · Mazars-derived payment ledgers; country and property sections; report pages 1-156
Open underlying ledger entry
limitation2024-01-10reported
The record does not show that this payment caused any official act, and gross property receipts cannot be treated as Donald Trump's personal net income.
- Roll Call: House Democratic report highlights Trump foreign payments2024-01-04 · Summary of the Mazars-based House report and its two-year/four-business scope
- Citizens for Responsibility and Ethics in Washington: Trump likely benefited from $13.6 million in payments from foreign governments during his presidency2024-01-10 · Comparison of House records with CREW tracking; limitations and country examples
Open underlying ledger entry

Money calculations

otherPayment or bounded estimate recorded in the House report$5,357,495
estimated · 2019-10-31 · observedPopulation Industrial and Commercial Bank of China; Trump Tower Commercial LLC; United States publicPeriod 2017-02-01 to 2019-10-31Basis Use the payer-specific amount or bounded estimate stated in the House report; do not aggregate it with overlapping country or property totals.Limits The source set is incomplete, gross receipts are not profit, and one record may overlap a broader payer or property total.Open cited evidence

Responses, legal status, contrary evidence, and limitations

limitation
The record does not show that this payment caused any official act, and gross property receipts cannot be treated as Donald Trump's personal net income.