Donald Trump maintains a bank account in China where he pursued licensing deals for years, according to a report that could undermine the president’s election campaign claim that he is tough on Beijing. Tax records showed a previously unreported bank account in China controlled by Trump International Hotels Management. The account paid $188,561 in taxes in China between 2013 and 2015 in connection to potential licensing deals. The recent tax records also showed Trump invested at least $192,000 in five companies charged with pursuing business deals in China. Those companies claimed $97,400 in business expenses, including payments as recently as 2018, the Times reported.
Trump has waged his re-election campaign on his ability to stand up to China on issues from trade to human rights abuses in Xinjiang and political repression in Hong Kong as well as accountability for the spread of Covid-19. Under Trump, ties between China and the US have reached their lowest point in decades. The disclosures also come after Trump accused his opponent, Joe Biden, of being “weak on China” and described the Biden family as “selling out our country” to China. The Trump campaign has run attack ads against Biden’s son for having “inked a billion-dollar deal” with the government-owned Bank of China, allegations that have been not been substantiated. A lawyer for the Trump Organization, Alan Garten told that the company had “opened an account with a Chinese bank having offices in the United States in order to pay the local taxes”. “No deals, transactions or other business activities ever materialized and, since 2015, the office has remained inactive,” he said.
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