President-elect Donald Trump showed little to no concern about conflicts of interest in his first term, arguably less so than any president in recent memory. The result was constant speculation as to whether other governments or corporations got special treatment in exchange for Trump’s private personal gain.
He was a president who not only seemed carefree about conflicts but at times went out of his way to help himself – sending military personnel to stay and refuel at his resort in Scotland on the government’s expense account. He even went so far as to charge exorbitant rates at his resorts for Secret Service employees, after promising to charge the government at”cost.” (Which would likely have been acceptable – it was his custom to winter in Palm Beach and summer in New Jersey… If he had done it at cost.) And yet he offered anything but reduced rates. Many media reports challenged his conflicts and not one changed any policy or private motivation – not that we see. He openly demanded that the G7 meet at his resort in the middle of Miami – a meeting usually held at some gorgeous “out of the way” resort in the host nation in the middle of wonderful summers. Conflicts of interest peppered his term. The middle of Miami near the airport in July isn’t what they expect.
Now we see yet another conflict arise just before taking office, a deal in a country run by a dictatorial family, much easier to make a personal and uniquely conditioned deal, and one that has been the subject of questionable deals in the past, even with George W. Bush as president. Trump wants to make a major new investment in the kingdom as announced by son Eric. Yahoo Financial reports on a major deal:
The Trump Organization on Wednesday announced a new project in Saudi Arabia: Trump Tower Jeddah. The two companies have spent about $532 million on this residential apartment site, which is expected to be completed in four years. The Trump Organization relies a lot on Saudi Arabia, as the company’s real estate deals in the United States have fallen off since Donald Trump’s first presidential term ended amid a backlash over the January 6, 2021, Capitol riots.
Two points: Saudi Arabia probably does offer some good business opportunities for people of means. They have a lot of money and tend to want deals with name brands. It is also true that an American company – especially one that is privately-owned and not subject to shareholder opinions – can make sweetheart deals with a corrupt, or “flexible” family-owned country. This trait arises even more when it appears that the great deal is conditioned on some good will elsewhere in the world, be it from American policy or just major corporations with broad powers.
The tower is a long-stalled project for the Trumps, as they had planned to build one of their signature towers in the Middle East before Donald Trump was elected president in 2016. After that, the Trump family pledged not to sign new international deals while he was president. But now, after being elected a second time, the elder Trump doesn’t seem to care about the appearance of a conflict of interest, raising questions of corruption.
Huh. Interesting. So they talked about the property all the way back before 2016 – and yet it didn’t get built. One wonders why? Did Saudi Arabia not offer enough concessions? Were banks terrified to loan money for a complex put into a somewhat lawless place? Too risky for all? Whatever it might have been, it didn’t go through after Trump pledged to not make foreign deals during his first term. That would seem to be out the door even though this one is announced just prior to him taking office.
It was not announced, and thus presumably not a done deal, until after the election.
Trump is a business guy – very few presidents were previous titans of industry. Making matters more murky is that he primarily deals in real estate, not the type of thing that is easily put into a blind trust, hard to sell at a fire sale rate, nowhere near as easy as $4 billion in an investment bank portfolio. The easiest thing by far is to still sell it all and put it into a great savings account. Most presidents consider the office to be the pinnacle of a lifetime and kind of forget business ventures in the past – their lives changed dramatically.
One never got that sense with Donald Trump and it sure doesn’t seem so now. It seems like money is the only measure of his life’s work, over and above two Electoral College victories and his television ratings and rally numbers, more so than his approval rating as president. None of that really matters other than just annoying him.
What matters is the fact that Donald Trump often acted as the country’s king. Good deals for Trump seemed equated, or at least self-evident, as good deals for America. Don’think for a minute that other countries haven’t noticed a great way to get his attention and favor. Saudi Arabia was nice enough to back the LIV tour to host a tournament in Scotland next year- at Trump’s resort, Not a good look as president.
To the extent that money alone can have a huge impact on foreign policy, it is a great bargain for a foreign nation -. $100 million is an absolute fortune to anyone – including Trump – as a hypothetical business deal, but when compared to a government’s GDP and budget, $100 million isn’t much. It can be a fantastic investment if it shifts American policy in that nation.
Trump likes to say that world leaders tell him that America is much stronger under him, that he’s a great leader – much better than others. It sounds dorky until you think about it and realize “Of course, they say those exact things. He isn’t lying.” Every foreign leaders knows that Trump is susceptible to flattery. Words are free and may not reflect reality, they absolutely tell Trump exactly what he wants to hear.
The same dynamic – only with much higher stakes – applies to business deals. The House of Saud knows that it can create tax incentives, zoning solutions, and strong-arm local unions (Or their foreign equivalent) to offer up some glittery new deal. The deal didn’t get made prior to 2016 – but is good to go now. ‘Wonder what new conditions popped up this year… and only after the election?
God Bless: I can be reached at [email protected], on “X” @JasonMiciak, and now on Bluesky – follow along.
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Conflicts of interest are concerning because they create a fear in citizens that the “loyalty to private economic and business interests, rather than fealty to the general public interest, is being served by such officials in their actions.”
He has never had “fealty to the public interest” and I don’t expect him to ever have such a trait. It’s himself, first and foremost in every way.
I added that as a quote from a Harvard Law Review article. I never said as such and should have been more clear about the source – which was not addressing anyone in particular, just the problem.
Thx for pointing it out.