- Oct 17, 2011
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During Donald Trump’s presidency, his businesses received at least $7.8 million in payments from the foreign governments and officials of 20 countries, including China, Saudi Arabia and Qatar, according to a report released by Democrats on the House Oversight Committee.
The report argues that the payments were in violation of the Constitution’s foreign emoluments clause [but SCOTUS] in 2021 said the cases were moot because Trump no longer held office.
When Republicans took control of the House in 2023, House Oversight Committee Chairman James Comer (R-Ky.) ended the congressional investigation into Trump’s alleged violations of the emoluments clause. He also declined to enforce a court-ordered agreement that Mazars USA, Trump’s former accounting firm, produce evidence related to Trump’s financial dealings.
According to information available to committee investigators, China made the largest total payments — $5.5 million — to Trump’s private businesses. The Industrial and Commercial Bank of China (ICBC), one of China’s biggest state-owned banks, was among Trump Tower’s largest office tenants during the Trump presidency. The report notes that during Trump’s first year in the White House, several Chinese banks — including ICBC — came under scrutiny for financial ties to North Korea, causing the administration to weigh sanctions against them. [Ultimately, the Trump Administration did not take any action against ICBC]
Among the actions the report urges Congress to consider are a requirement that senior executive officials disclose to Congress receipt of any foreign emoluments, and an “explicit procedure for presidents and senior officials to seek the requisite congressional authorization for the receipt and retention of emoluments.” The report also recommends Congress implement a process for disclosing payments to entities in which a sitting president has a financial interest by foreign officials and lobbyists acting on behalf of foreign governments.
The report argues that the payments were in violation of the Constitution’s foreign emoluments clause [but SCOTUS] in 2021 said the cases were moot because Trump no longer held office.
When Republicans took control of the House in 2023, House Oversight Committee Chairman James Comer (R-Ky.) ended the congressional investigation into Trump’s alleged violations of the emoluments clause. He also declined to enforce a court-ordered agreement that Mazars USA, Trump’s former accounting firm, produce evidence related to Trump’s financial dealings.
According to information available to committee investigators, China made the largest total payments — $5.5 million — to Trump’s private businesses. The Industrial and Commercial Bank of China (ICBC), one of China’s biggest state-owned banks, was among Trump Tower’s largest office tenants during the Trump presidency. The report notes that during Trump’s first year in the White House, several Chinese banks — including ICBC — came under scrutiny for financial ties to North Korea, causing the administration to weigh sanctions against them. [Ultimately, the Trump Administration did not take any action against ICBC]
Among the actions the report urges Congress to consider are a requirement that senior executive officials disclose to Congress receipt of any foreign emoluments, and an “explicit procedure for presidents and senior officials to seek the requisite congressional authorization for the receipt and retention of emoluments.” The report also recommends Congress implement a process for disclosing payments to entities in which a sitting president has a financial interest by foreign officials and lobbyists acting on behalf of foreign governments.
