On January 10, 2025, President Trump released one “ethics agreement“Detailing how he would manage his personal commercial interests in the White House. He is remarkably weak and does not require that Trump does not exceed any of his assets. Unlike a similar agreement for his first mandate, this does not prohibit Trump’s organization from concluding new transactions abroad while Trump is president. Instead, he simply prohibits the Trump organization from concluding transactions abroad. directly with foreign governments.
Trump’s second term of the second term of the second term is so permissive that it is difficult to find a way to violate it. But three months after his presidency, Trump found a way.
Last Thursday, the Trump organization concluded an agreement to build a $ 5.5 billion Trump International Golf Club in Qatar. To develop the project, the Trump organization joins forces with Dar Global, a Saudi company, and Qatari Diar, a company belonging to the Qatari government. Qatari Diar was Created by the Sovereign Fund of Qatar in 2005. Its declared objective is to “coordinate the priorities of real estate development of the country”.
Eric Trump, who directs the Trump organization, said that the agreement only concerned Saudi society and not Qatari Diar. “”We have no relationship with them“, He insisted in a press release.
It seems to be wrong.
“We are incredibly proud to extend the Trump brand to Qatar thanks to this exceptional collaboration with Qatari Diar and Dar Global,” said Eric Trump press release. “The simaism of the Trump international golf club and our luxury villa community will reflect our highest standards of quality, prestige and timeless elegance.”
During the announcement of the agreement, Eric Trump appeared alongside Abdullah bin Hamad bin Abdullah al attaya, an official of the Qatari government and the president of Qatari Diar.
While the agreement was signed, Eric Trump posed a star Logos From the Trump organization, Dar Global, Qatari Diar.
In addition, the Trump organization announcement He also joined forces with Dar Global to build a new Trump Hotel and Tour in Dubai. Although Dar Global is not officially owned by the Saudi government, it “has close ties to the Saudi government. “The tower, planned to be completed in 2031, will be available The highest infinity pool on the roof of the world.
It will also house a private club called “The Trump”, which “brings together the well-being, business and the timeless atmosphere of a classic private club”.
Last week, another company belonging to the Trump family, Crypto World Liberty Financial (WLF), announced that it would be involved in a transaction involving a foreign government. Zach Witkoff, the co-founder of WLF, announced that MGX, a venture capital company belonging to the government of Abu Dhabi, would do An investment of $ 2 billion In the crypto exchange binance, using the stable embryonic piece of WLF, USD1. Stable parts are cryptographic assets fixed in traditional currencies in order to avoid the volatility of other tokens.
There is no reason for MGX to finance the transaction with the Little used USD1, rather than money or a more established stable room, other than the desire of MGX and Binance to enter the Trump family. MGX is chaired by Sheikh Tahnoon bin zayed al nahyan, who met President Trump At the White House in March. Binance underwent monitoring by the federal government after admitting in 2023 violate the laws over money laundering.
The burst of offers occurs a few days before Trump was planned to travel to the region. During a trip scheduled for May 13 to 16, Trump will visit Saudi Arabia, Qatar and the United Arab Emirates.
The exact financial arrangements, including the direct financial advantage of President Trump, remain opaque. But discussions on trade, military assistance and other questions are now inextricably linked to Trump’s private real estate investments. Trump openly draws his post as president to improve his personal finances.
It is not normal.
Former Republican Presidents and Democrats, including Joe Biden, Barack Obama and George W. Bush, sought to eliminate the appearance of conflicts. Biden and Obama have sold all the assets with the exception of money and diversified investment funds. Bush has placed its assets in a qualified blind trust, which means that investment decisions have been taken to its attention or its contribution. They did not enter new commercial companies at the White House – even less a new company directly with foreign governments.
The tariff contradiction
Trump has imposed rates high on almost all countries, including 145% on China, as part of a strategy to force companies to invest at the national level. “Remember, there are no prices if you build your product here”, Trump said Sunday on meeting the press. “It’s very easy. It’s very simple.” Trump also insisted that American consumers should be willing to pay more for certain articles or completely renounce purchases, to support this effort. “I just say that (American children) don’t need to have 30 dolls. They can have three,” said Trump. “They don’t need to have 250 pencils. They can have five.”
But Trump’s own business, the Trump organization, does not invest in projects in the United States. Since its inauguration, the Trump organization has announced new developments in the United Arab Emirates,, Qatar,, India And Vietnam. But none in the United States.