London Daily

Focus on the big picture.
Wednesday, Nov 26, 2025

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
UK Economy Stalls as Reeves Faces First Budget Test
UK Economy’s Weak Start Adds Pressure on Prime Minister Starmer
UK Government Acknowledges Billionaire Exodus Amid Tax Rise Concerns
UK Budget 2025: Markets Brace as Chancellor Faces Fiscal Tightrope
UK Unveils Strategic Plan to Secure Critical Mineral Supply Chains
UK Taskforce Calls for Radical Reset of Nuclear Regulation to Cut Costs and Accelerate Build
UK Government Launches Consultation on Major Overhaul of Settlement Rules
Google Struggles to Meet AI Demand as Infrastructure, Energy and Supply-Chain Gaps Deepen
Car Parts Leader Warns Europe Faces Heavy Job Losses in ‘Darwinian’ Auto Shake-Out
Arsenal Move Six Points Clear After Eze’s Historic Hat-Trick in Derby Rout
Wealthy New Yorkers Weigh Second Homes as the ‘Mamdani Effect’ Ripples Through Luxury Markets
Families Accuse OpenAI of Enabling ‘AI-Driven Delusions’ After Multiple Suicides
UK Unveils Critical-Minerals Strategy to Break China Supply-Chain Grip
Taylor Swift’s “The Fate of Ophelia” Extends U.K. No. 1 Run to Five Weeks
UK VPN Sign-Ups Surge by Over 1,400 % as Age-Verification Law Takes Effect
Former MEP Nathan Gill Jailed for Over Ten Years After Taking Pro-Russia Bribes
Majority of UK Entrepreneurs Regard Government as ‘Anti-Business’, Survey Shows
UK’s Starmer and US President Trump Align as Geneva Talks Probe Ukraine Peace Plan
UK Prime Minister Signals Former Prince Andrew Should Testify to US Epstein Inquiry
Royal Navy Deploys HMS Severn to Shadow Russian Corvette and Tanker Off UK Coast
China’s Wedding Boom: Nightclubs, Mountains and a Demographic Reset
Fugees Founding Member Pras Michel Sentenced to 14 Years in High-Profile US Foreign Influence Case
WhatsApp’s Unexpected Rise Reshapes American Messaging Habits
United States: Judge Dressed Up as Elvis During Hearings – and Was Forced to Resign
Johnson Blasts ‘Incoherent’ Covid Inquiry Findings Amid Report’s Harsh Critique of His Government
Lord Rothermere Secures £500 Million Deal to Acquire Telegraph Titles
Maduro Tightens Security Measures as U.S. Strike Threat Intensifies
U.S. Envoys Deliver Ultimatum to Ukraine: Sign Peace Deal by Thursday or Risk Losing American Support
Zelenskyy Signals Progress Toward Ending the War: ‘One of the Hardest Moments in History’ (end of his business model?)
U.S. Issues Alert Declaring Venezuelan Airspace a Hazard Due to Escalating Security Conditions
The U.S. State Department Announces That Mass Migration Constitutes an Existential Threat to Western Civilization and Undermines the Stability of Key American Allies
Students Challenge AI-Driven Teaching at University of Staffordshire
Pikeville Medical Center Partners with UK’s Golisano Children’s Network to Expand Pediatric Care
Germany, France and UK Confirm Full Support for Ukraine in US-Backed Security Plan
UK Low-Traffic Neighbourhoods Face Rising Backlash as Pandemic Schemes Unravel
UK Records Coldest Night of Autumn as Sub-Zero Conditions Sweep the Country
UK at Risk of Losing International Doctors as Workforce Exodus Grows, Regulator Warns
ASU Launches ASU London, Extending Its Innovation Brand to the UK Education Market
UK Prime Minister Keir Starmer to Visit China in January as Diplomatic Reset Accelerates
Google Launches Voluntary Buyouts for UK Staff Amid AI-Driven Company Realignment
UK braces for freezing snap as snow and ice warnings escalate
Majority of UK Novelists Fear AI Could Displace Their Work, Cambridge Study Finds
UK's Carrier Strike Group Achieves Full Operational Capability During NATO Drill in Mediterranean
Trump and Mamdani to Meet at the White House: “The Communist Asked”
Nvidia Again Beats Forecasts, Shares Jump in After-Hours Trading
Wintry Conditions Persist Along UK Coasts After Up to Seven Centimetres of Snow
UK Inflation Eases to 3.6 % in October, Opening Door for Rate Cut
UK Accelerates Munitions Factory Build-Out to Reinforce Warfighting Readiness
UK Consumer Optimism Plunges Ahead of November Budget
A Decade of Innovation Stagnation at Apple: The Cook Era Critique
×