PROJECTION

Trump Has a Bank Account in China, Paid More in Taxes to Beijing Than U.S., Report Says

While Team Trump tears into Joe Biden for his son’s supposed ties to China, the president himself reportedly has his own bank account there.

President Trump maintains a bank account in China, even as his allies claim his Democratic opponent poses a security threat because of his son’s purported ties to China, The New York Times reports. Citing tax records, the Times reports China is one of three foreign countries where the president has bank accounts, none of which are listed on his public financial disclosures because they are under corporate names. The other two are the United Kingdom and Ireland. The account in China, operated by Trump International Hotels Management LLC, paid $188,561 in taxes in the country from 2013 to 2015, according to the Times. Trump Organization lawyer Alan Garten confirmed the bank account to the Times, saying it had been opened “with a Chinese bank having offices in the United States in order to pay the local taxes” as part of business projects in the country. The company had set up an office in China at the time of the account’s opening “to explore the potential for hotel deals in Asia,” but “no deals, transactions, or other business activities ever materialized and, since 2015, the office has remained inactive.”