Trump's call to save ZTE may benefit a major Trump Organization deal with Chinese developers
President Trump's decision to help a Chinese telecom company bounce back from U.S. trade restrictions may have residual benefits for his family's company, Quartz reported Tuesday.
In a pair of tweets this week, Trump reversed his administration's stance on ZTE, a Chinese company that bought phone parts from American companies until the Commerce Department banned U.S. businesses from selling to ZTE over the company's violation of trade sanctions. Trump said Sunday that he'd meet with Chinese President Xi Jinping to restore lost jobs, in a move that baffled many pundits.
Some are wondering whether the reversal will encourage Chinese businesspeople to work with the Trump Organization, the president's private company, reports Quartz. The South China Morning Post reported that a Chinese state-owned firm recently agreed to provide $500 million to fund a project that will build Trump-branded hotels and golf courses in Indonesia. The Trump Organization, which Trump still owns, could reportedly earn millions of dollars from the project.
Asked about the possible conflict of interest Monday, the White House said it would not comment on a private organization's business dealings.