Trump Organizations' new ethics plan promises Donald Trump will divest from his private business interests

CNN-

The Trump Organization announced Friday that President-elect Donald Trump would not be involved in the management of his real estate and branding empire during his second term and named an external ethics adviser to monitor the company's major actions, as part of several steps the organization said it was taking. to avoid conflicts of interest as Trump prepares to return to the White House later this month.

The provisions mostly reflect measures announced during the first Trump administration.

As part of its plan, the company has pledged not to enter into any new agreements with foreign governments and to voluntarily return to the U.S. Treasury all profits from foreign governments that it can identify that fuel its hotels and other properties .

The ethical commitment, however, says nothing about how the company will manage foreign business transactions. And Trump's son, Eric Trump, the company's executive vice president, previously said the company would continue its overseas operations during his father's second term, easing a self-imposed restriction that the company said it implemented during the first term.

In a statement, the Trump Organization stressed that the new president is not required by federal law or the US Constitution to withdraw from his business interests. Even so, Eric Trump said, the company is committed to not only meeting but far exceeding its legal and ethical obligations during my father's presidency.

He described the ethical standards announced Friday as robust.

The younger Trump, who essentially runs the company on a day-to-day basis, also announced that prominent Republican lawyer William Burck would serve as an outside advisor to review major deals to avoid ethics concerns.

The plan unveiled Friday promises that Donald Trump will have limited access to the company's financial information. Additionally, his businesses will remain in a trust, managed by his children, and his investments will be overseen by outside financial institutions that will neither solicit nor accept input from Trump.

Although Trump is not required to take these steps, previous presidents have acted more aggressively by divesting from their businesses or placing their holdings in blind trusts to avoid the appearance of self-serving dealings, a distinction often noted by ethics watchdogs during Trump's political career.

And, as CNN previously reported, the new president has made new business deals in recent months, including joining his family in a cryptocurrency business and promoting new products touting his election victory.

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