London Daily

Focus on the big picture.
Wednesday, Jul 29, 2026

Trump Organisation pressed on US president’s Chinese bank account

Trump Organisation pressed on US president’s Chinese bank account

Democrat lawmakers want company to reveal name of financial institution and provide detailed accounting of transactions.

Top US Senate Democrats are asking the Trump Organisation to explain the company’s ties to China after reports from The New York Times that the US president’s company has a bank account there.

In a letter to Trump Organisation lawyer Alan Garten obtained by Bloomberg News, the senators asked for the name of the financial institution and for a detailed accounting of all the transactions between US President Donald Trump’s bank account and China since 2013.

The letter comes as Democrats are making their closing arguments to voters about why they should deny Trump a second term in the November 3 presidential election. Democrats said it is imperative that Congress understand the president’s financial entanglements in China, particularly after refusing to relinquish control of his company or publicly release his tax returns.

Trump has denied any wrongdoing and says that his Chinese bank account has been closed for years.

‘They would have called me Beijing Barry’: Obama taunts Trump about Chinese bank account


“I closed it before I even ran for president, let alone became president,” Trump said in the final presidential debate this month.

The letter, signed by Senate Minority Leader Chuck Schumer and Senators Ron Wyden and Sherrod Brown, requested more information about a entity controlled by the president’s company, Trump International Hotels Management, which The New York Times said paid US$188,561 in taxes to China between 2013 and 2015.

The senators asked for more information about how much that entity has earned in China and other foreign countries.

“It appears that in 2017, immediately after President Trump took office, Trump International Hotels reported an unusually large increase in revenue of US$17.5 million,” the senators said in the letter.

“This was reportedly followed by a US$15.1 million withdrawal by President Trump from the company’s capital account.”

The senators said it remains unclear where the money came from and how it was spent.

Bombshell New York Times report claims Trump hasn’t paid income tax for ‘10 of the past 15 years’


The lawmakers also asked for more information about trademarks the Chinese government has approved for entities owned by Ivanka Trump, the president’s daughter and a White House aide.

The lawmakers asked if the president has any ties to the accounts holding those trademarks.

Newsletter

Related Articles

0:00
0:00
Close
Trump says Israel ‘would not survive’ without US
France Evacuates Atlantic Coast Resorts as Wildfire Risk Rises Again
Magnitude 7.1 Earthquake Strikes Kumamoto as Rescuers Search Collapsed Buildings
OpenAI Faces Demands for Full Disclosure After Models Breach Hugging Face
Nvidia Reportedly Takes Vast Texas Data-Centre Lease to Underwrite AI Expansion
Royal Collection Trust Income Falls as Palace Visits Retreat From Record Highs
FIFA’s Private-Investment Plan for World Cup Rights Draws European Revolt
Ministers Examine Social-Care Levy as Burnham Seeks Funding Settlement
UK Attractions Sector Forecast to Add £587 Million in Visitor Spending
England Coast Path Extends With New Suffolk Estuary Walking Route
Attorney General Wins Longer Jail Term for Fatal Dangerous Driving Case
Andrew and Tristan Tate Remain in U.S. Custody Pending UK Extradition
Royal Fleet Auxiliary Workers Secure Above-Inflation Pay Deal
Prime Minister Seeks Cross-Party Agreement on Social Care Reform
Court Upholds Competition Ruling Against Drugmakers Over Hydrocortisone Prices
UK Unveils Major Technical Education Reform for Secondary Schools
UK Judge Rebukes Home Office Over AI-Generated Errors in Asylum Case
UK and Ukraine Agree to Share Electronic Warfare Technology
Apple Briefly Crosses Five Trillion Dollar Valuation as Investors Retreat From AI Bets
Badenoch Offers Tory Votes to Keep Serious Offenders in Prison
Why Americans Queue for $15 Ice Cream and a $100 Caviar Pint
Another AI Genius Left the United States — and Silicon Valley Is Starting to Worry
Shein Reports $99mn Loss as Trade Barriers Test Low-Cost Model
CXMT Gains 466% in China’s Biggest IPO Since 2010
Amazon Seeks Approval for 5,105-Satellite Mobile Network
Burnham Puts School-to-Work Reform at Centre of Welfare Strategy
Johnson & Johnson Agrees to $5.5 Billion Talc Lawsuit Settlement
EU AI Act Shapes Global Corporate Standards, Study Finds
UK-Japan Relations Expected to Deepen Under Burnham Government
Burnham Signals Tough Decisions on Council Tax Reform
UK Inflation Slows to 2.6% in June
Bank of England Holds Interest Rates at 3.75%
Prime Minister Burnham Opens Talks With Business Leaders on Economic Growth
Government Launches 'Number Ten North' to Drive UK Devolution
Labour Regains Poll Lead After Burnham's First Weeks in Office
Prime Minister Burnham Rules Out Early UK General Election Before 2029
Burnham Rules Out Replacing Council Tax and Stamp Duty
Fresh Heatwave Threatens to Rekindle France’s Historic Wildfire Crisis
The Burnham government is seeking to establish its credibility through ambitious social care reform while maintaining fiscal discipline and public confidence in the National Health Service. Labour's early improvement in opinion polls provides political momentum, but sustained support will depend on delivering tangible policy outcomes. Britain continues to reinforce its role in European security through long-term support for Ukraine, while climate-related risks, including increasingly severe wildfires across England and Scotland, are becoming a more prominent national resilience challenge alongside economic uncertainty.
United Kingdom Economy Remains Exposed to Global Energy Risks
Prime Minister Dismisses Calls for an Early General Election
Scottish Wildfires Continue to Stretch Emergency Services
United Kingdom Faces Rising Wildfire Risk as Heatwave Continues
Lower Oil Prices Ease Inflation Concerns and Support Financial Markets
Financial Conduct Authority Launches Consumer Campaign on Car Finance Compensation
Government Prioritises Employment Over Benefit Cuts in Welfare Reform Plans
Prime Minister Rules Out Sweeping Property Tax Changes Before Autumn Budget
AstraZeneca Beats Expectations as Cancer Medicines Drive Strong Profit Growth
Labour Regains Narrow Polling Lead After Burnham's First Week in Office
United Kingdom Reaffirms Long-Term Commitment to Ukraine Under Burnham Government
×