As Trade War With China Begins, Here's A Short List Of Trump Deals Involving That Country
The Trump administration imposed $34B in tariffs on 818 Chinese imports on Friday, as planned, and the Chinese government answered in kind, as expected.
The U.S. is in the unprecedented position of being in a trade war led by a real estate developer who has active interests in, and indirectly with, the country that is its target.
President Donald Trump has had business ties to China for some time now, long before he entered politics. These include applications for trademarks there in the 2000s and Trump Hotel Collection's opening of an office in Shanghai in 2012, though as of yet the company hasn't opened any hotels in that country.
A Major Chinese Tenant At Trump Tower
One of China's top state-owned banks, the Industrial and Commercial Bank of China, occupies the 20th floor of Trump Tower in Manhattan, and has since 2008. According to Forbes, the $1.9M/year lease expires in late 2019, which presumably means that negotiations for renewal are now well underway.
Chinese Trademarks For The Trumps
Blouses, shoes and handbags are made in Chinese factories for Ivanka Trump's clothing line. In May, China awarded the president's daughter a variety of new trademarks, including for books, housewares and cushions, and over the years, The Trump Organization has applied for and received many more trademarks in China.
Chinese Deals With Trump Partners In Third Countries
MNC Corp., which is Trump's partner in Indonesia, recently inked a construction contract with Metallurgical Corporation of China, another state-run company, for its development, Lido City. The project will include a Trump-branded golf course, as well as a hotel and residential space.
Dubai-based Damac Properties awarded state-run China State Construction Engineering Corp. a contract to build infrastructure at its development, Akoya Oxygen. The Trump Organization is being paid to operate a golf course there.
Deals In China That Didn't Pan Out For Trump
At least two ventures in China did not work out for Trump in his pre-presidential days. In 2008, Chinese developer Evergrande Group backed away from an office-building project with Trump in China, and a 2012 deal fell through to brand and manage a development for State Grid Corporation of China.