United States president-elect on Wednesday announced that he would step away from his businesses before assuming office. In a series of tweets, Trump said he would hold a press conference along with his children on December 15 to detail his plans to divest himself from his ventures, which include a winery, a modelling agency and several infrastructure projects among other businesses.
Trump said the move would allow him to “fully focus on running the country in order to MAKE AMERICA GREAT AGAIN”. While he was not mandated to divest himself from his ventures, it was “visually important for him as president to not have a “conflict of interest” with them, Trump added. “Hence, legal documents are being crafted which take me completely out of business operations. The Presidency is a far more important task!”
The US Office of Government Ethics congratulated Trump rather emphatically, saying divestiture would resolve conflict of interest issues “in a way that transferring control” would not, an apparent reference to Trump’s children taking control of his businesses once he assumes office. “Brilliant! Divestiture is good for you, very good for America!” the office said in a tweet. “Right decision!”
The president-elect has faced accusations of allowing his business interests to interfere with his transition to office. In November, his meeting with Indian entrepreneurs about a proposal to construct a Trump-branded luxury apartment building in South Mumbai drew sharp criticism. At that time, Trump organisation spokesperson Breanna Butler had said “It was not a formal meeting of any kind.” Butler had then said the Trump family was working on ways to formally separate the president-elect’s functioning from his family’s business.
Limited-time offer: Big stories, small price. Keep independent media alive. Become a Scroll member today!
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!