Daily Times

As Donald Trump prepares to take over as the next US president, attention has turned to what he will do with the business that helped propel him to the White House.

During the campaign the president-elect regularly touted his business skills. He spent an estimated $50m (£40m) of his own money to finance his presidential run. Now Mr Trump says he will turn over control of his business to his three adult children – Donald Jr, Ivanka and Eric.

Passing control of the Trump Organization to his family hasn’t eliminated concerns about potential conflicts of interest, or Mr Trump’s ability to enrich himself through the presidency.

What does Mr Trump and his family own?

The Trump Organization is a wide-ranging, international business. It is privately held and thus not required to disclose everything it owns. But some of Mr Trump’s holdings are well known.

Campaign financial disclosure showed he makes much of his money from golf courses, including two he owns in Scotland. The Trump Organization made an estimated $193m from golf-related income in 2014. The Trump Organization also earns income by licensing the Trump name to building developers around the world, including in Turkey, India and Panama.

There’s also a variety of real estate holdings: ownerships or investments in hotels, offices and residential buildings. Mr Trump’s refusal to release his tax returns, another source of information about how he makes money, means his business dealings are still largely opaque.

His firm also owes large debts. An investigation by the New York Times found Mr Trump’s businesses owed at least $650m (£522m), some to the Bank of China and Deutsche Bank.

Meanwhile, his daughter Ivanka runs a clothing line and jewellery brand, in addition to her position at the Trump Organization.

Her husband, Jared Kushner, owns the New York Observer newspaper and is a real estate developer. Eric and Donald Jr are both executive vice presidents at the Trump Organization.Can he hold on to his business?

As president, Mr Trump will also technically be allowed to run his business. The US has conflict of interest laws that specifically prevent government employees, such as the White House staff, from having these types of business ties, but they do not apply to the president or vice-president.

That doesn’t mean Mr Trump will not run the risk of violating US law by continuing to profit from the Trump Organization while in charge of the country.

What happens when parts of the Trump Organization have to deal with the US government?

There are several opportunities for conflict. Mr Trump’s hotel in Las Vegas has an ongoing dispute with a hotel workers’ union. In November, the National Labor Relations Board (NLRB) ruled against the Trump Organization and ordered them to negotiate with the union.

The firm has appealed against this decision, and the case will go to district court, where a justice department lawyer will argue against the Trump Organization.

Starting in January, Mr Trump will have the ability to fill two empty spots on the NLRB. The head of the justice department, the attorney general, is also nominated by the president.

Mr Trump also holds a lease with the General Services Administration (GSA) for his hotel in Washington, another agency with a politically-appointed leader.

Will the Trump Organization’s international deals be a problem?

Mr Trump’s overseas business interests invite questions of whether his foreign policy decisions are directed by US interests or by his own business interests.

A section of the US Constitution known as the Emoluments Clause restricts what US presidents can accept from foreign governments.

The clause says “no person holding any office of profit or trust” may accept “any present, emolument, office, or title, of any kind whatever, from any king, prince, or foreign state”.

America’s founding fathers included this to prevent US leaders from being beholden to foreign governments. If the Trump Organization accepts special deals, such as tax breaks or land rights overseas, it could run afoul of the clause. Even overseas profits could be viewed as a violation.

What would happen if Mr Trump did violate the Emoluments Clause?

If Mr Trump did violate the Emoluments Clause, Congress could take action by impeaching him.

The process allows Congress to bring a charge and launch a trial against the president.

If the president is found guilty, he will be removed from office, immediately. According to the Constitution, “treason, bribery, or other high crimes and misdemeanours” are all reasons for impeachment, giving Congress a great deal of flexibility.

But as Republicans will now control both the House and Senate, a portion of his own party would have to vote for such a process.

How can conflicts be avoided?

On the campaign trail, Mr Trump promised to set up a blind trust controlled by his children.

A blind trust is a fund that has been set up with the express purpose of separating a person from knowledge of how their money is being invested.

The person setting up the trust turns over control of their assets to an independent financial adviser – keeping the trust’s owner “blind”. The owner can also sell their stocks or bonds before giving the money to the adviser to reinvest, adding another layer of separation from knowledge of how their money is invested.