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FACT SHEET: MAGA House Republicans Should Investigate Trump’s Extensive Foreign Business Ties To China

Aug 27, 2024

MAGA House Republicans are attacking Minnesota Governor Tim Walz for visiting China as a high school teacher nearly two decades ago, with House Oversight Chair James Comer launching an investigation and contacting the FBI. That’s rich coming from Comer, who is spearheading the inquiry despite illegally importing marijuana from China while serving as Kentucky’s Agriculture Commissioner. 

Walz’s record is clear: he was one of the toughest members of Congress on China. He served on the Congressional-Executive Commission on China, where he called out China’s egregious record of human rights abuses and called for tying trade policies to human rights. Walz has also been a vocal supporter of opposition leaders and dissidents targeted by the Chinese government, including pro-democracy advocates from Hong Kong and the Dalai Lama.

Of course, House Republicans are once again playing defense for Donald Trump – even though Trump himself has conducted business in China for decades and collected millions from Chinese government-owned entities while in office. Throughout his presidency, Trump and his family inked business deals and landed trademarks with state-owned Chinese corporations. Trump befriended and embraced the Chinese government’s authoritarian practices, even calling Chinese President Xi Jinping a “good friend” – all while his advisors raised concerns about his relationship with the Chinese conflicting with U.S. interests.

Not only are House Republicans investigating the wrong guy, it’s clear they have the wrong priorities as well. With their new investigations, the MAGA House GOP is continuing to use Congress as an arm of the Trump campaign and ignoring the important priorities of Americans across the country like the cost of living, access to health care, and more.

President Trump Collected Millions From Chinese Government-Owned Entities While In Office. According to Forbes Trump “collected millions of dollars from government-owned entities in China since he took office.” As of October 2020, Trump properties leased by the Industrial Bank of China paid around $1.9 million in annual rent and contributed at least $5.4 million in business inflows during the Trump presidency.

  • Trump Made $6.5 Million In Income From China During His First Year In Office Alone. Trump’s tax return from 2017, his first year in office, shows that he reported $6.5 million in gross income from China. According to MSNBC, “The source of the China payments is not clear from the returns.” 
  • “I Have The Best Tenants In The World:” President Trump Was Well-Aware Of The Multi-Million Dollar Lease To Chinese Interests. Trump was well aware of the $1.9 million lease to Chinese interests, telling a group of journalists touring Trump Tower in 2015, “I’ll show you the Industrial Bank of China…‘I have the best tenants in the world in this building.” According to a separate report from the Washington Post, Trump said, “I deal with the Chinese all of the time. I do tremendous — the largest bank in the world is in one of my buildings in Manhattan. I deal with them.” After Trump left office, the Chinese bank abruptly ended its lease in Trump Tower years ahead of schedule.
  • After Trump’s Election, His Buildings Saw An Uptick In Buyers With Chinese Government Ties. A month after Trump’s inauguration, a woman with connections to a front group run by Chinese intelligence purchased an apartment at a building in Manhattan owned by Trump. Within a few months, a Trump mega-donor with family ties to the Chinese Communist Party – and no obvious source of wealth or regular income – moved into a Trump Tower apartment as well. 

Time And Again, Trump Used His Position To Support China and Come To The Aid of President Xi Jinping. Throughout his presidency, Trump befriended and embraced the Chinese government’s authoritarian practices to the detriment of U.S. interests. Trump’s own National Security Advisor John Bolton expressed concerns that Trump was granting “personal favors” to Xi Jinping. Early on in his presidency, Trump complimented China on their predatory trade policies, stating that he “g[a]ve China great credit” for their ability to take advantage of other countries via trade. In February 2018, Trump called Xi Jinping’s move to consolidate power and ensure his tenure “for life” “great.” 

In 2018 and 2019, Trump touted China’s role in the US negotiations with North Korea and called Xi Jinping a “good friend.” Trump failed to publicly support the 2019 and 2020 pro-democracy protests in Hong Kong out of concern that it would harm his relationship with Xi Jinping, stating, “President Xi of China has acted responsibly, very responsibly.” Since leaving the White House, Trump has also refused to commit support to longtime U.S. ally Taiwan in the event of an invasion by China.

  • Former President Trump: “President Xi Loves The People Of China, He Loves His Country, And He’s Doing A Very Good Job.” In February 2020, Trump declared, “I think President Xi is working very hard. As you know, I spoke with him recently. He’s working really hard. It’s a tough problem. I think he’s going to do — look, I’ve seen them build hospitals in a short period of time. I really believe he wants to get that done, and he wants to get it done fast. Yes, I think he’s doing it very professionally.” When asked if he trusted data from China, Trump  declined to answer the question, instead, praising the Chinese President: “Look, I know this: President Xi loves the people of China, he loves his country, and he’s doing a very good job with a very, very tough situation.” 

President Trump Helped A Sanctioned Chinese Telecommunications Firm To “Protect Chinese Jobs,” Blindsiding His Own Administration. In May 2018, Trump helped a sanctioned Chinese telecommunications firm after two Trump-affiliated projects signed deals with Chinese state-owned companies. Trump even said he was doing this to protect Chinese jobs, and senior U.S. officials reportedly “struggled to explain and act on” Trump’s abrupt decision. 

President Trump Promised To Donate Foreign Government Profits While In Office—But He Donated Less Than A Third Of His Proceeds From The Chinese Government. Before he became President, Trump promised to donate all foreign government profits at his hotel to the U.S. Treasury. But as Forbes reported, “it sure doesn’t seem like the Trump Organization handed over all their profits from the deal with the Chinese. The Trump Organization reportedly donated a total of $343,000 to the U.S. Treasury in 2017 and 2018, Trump’s first two years as president. […] “[T]hat money…coming from the Chinese government…adds up to $1.2 million—or more than three times what the Trump Organization reportedly gave to the Treasury.”

President Trump Maintained Three Foreign Bank Accounts While In Office—Including One In China. Trump has maintained a bank account in China for years, including during his presidency. His tax filings showed he held a bank account in China from 2015 to 2017, and in October 2020 Trump’s lawyer told the New York Times that his Chinese bank account remained open – despite Trump’s public pledge to close the account during a 2016 presidential debate. 

President Trump’s Business With China Raised Legal and Ethics Concerns. Ethics experts raised concerns about Trump’s business ties with China before he ever took office. As Forbes reported, “The arrangement posed legal concerns, since the U.S. Constitution prohibits federal officials from accepting ‘any present, emolument, office, or title, of any kind whatever, from any king, prince, or foreign state’ without Congressional approval. Ethics experts, who have often focused on the president’s hotel in Washington, D.C., argued that the president would violate the Constitution’s emoluments clause from the moment he took office.”

Ivanka Trump Received Dozens of Trademark Approvals In China Throughout Her Father’s Presidency, Often Coinciding With National Foreign Policy Commitments. Over Trump’s four years in office, Trump’s daughter Ivanka, who also served as a White House advisor, saw her business with China grow. Ivanka owned a jewelry store in China and some of her self-branded products were made in and imported from China. Dozens of her trademarks – 41 trademarks by April 2022, approved 40 percent faster than before Trump’s presidency – received approval around the same time as official state visits and negotiations:

  • April 2017: Ivanka Trump Received Three Trademark Approvals In China The Same Day She And Her Father Dined With Chinese President Xi Jinping. In April 2017, Ivanka Trump’s company had 37 pending trademark applications in ten countries, including China, Indonesia, and the Philippines, covering “the sale of leather goods in China, jewelry in the Philippines, and beauty products in Indonesia.” According to the LA Times, “On the same day Trump and his daughter dined with Chinese President Xi Jinping at Mar-a-Lago in Florida in April 2017, China awarded her three preliminary trademark approvals for jewelry, handbags and spa services.”
  • May 2018: China Gave Ivanka Trump Seven New Trademarks Across Multiple Businesses That She Applied For After President Trump Took Office—Approved Around The Time President Trump Committed To Keeping A Chinese Telecommunications Company Afloat. In May 2018, China awarded Ivanka Trump seven new trademarks across a broad collection of her businesses, including books, housewares, and cushions. As the New York Times reported, “At around the same time, President Trump vowed to find a way to prevent a major Chinese telecommunications company from going bust, even though the company has a history of violating American limits on doing business with countries like Iran and North Korea.”
  • October and November 2018: Ivanka Trump Received Approval For 16 More Trademarks While Trump Negotiated A New Trade Deal With China. In October and November 2018, China’s Trademark Office granted Ivanka Trump initial approval for 16 trademarks covering self-branded fashion gear like sunglasses, handbags, shoes, and jewelry, as well as beauty services and, in a notable departure from her fashion ventures, voting machines.
  • January 2019: Ivanka Trump’s Brand Received Five New Trademarks In China. In January 2019, Ivanka Trump’s shuttered fashion brand received preliminary approval on five new trademarks in China amid trade negotiations between the U.S. and Chinese governments. The trademarks covered brokerage, charitable fundraising, art valuation, child care centers, sunglasses, wedding dresses, and more.

Trump’s Former White House Special Advisor and Son-In-Law Jared Kushner Has Long-Held Business Ties To China. After Trump was elected president, Kushner’s family entered talks with Chinese investors with close ties to the Chinese government to redevelop a failing Manhattan property for $4 billion. The deal fell apart after facing scrutiny for posing a national security risk, but less than two months after the deal fell apart, Jared Kushner’s sister suggested to Chinese investors that the Kushner family could help investors obtain American green cards if they invested in the family’s businesses.

  • Chinese Officials Discussed Plans To Use Jared Kushner’s Business Interests To Manipulate The White House. As the Washington Post reported, “Officials in at least four countries have privately discussed ways they can manipulate Jared Kushner, the president’s son-in-law and senior adviser, by taking advantage of his complex business arrangements, financial difficulties and lack of foreign policy experience, according to current and former U.S. officials familiar with intelligence reports on the matter. Among those nations discussing ways to influence Kushner to their advantage were the United Arab Emirates, China, Israel and Mexico, the current and former officials said.” 

Donald Trump Jr.’s Business Partner Inked A Deal With A Chinese State-Owned Construction Company. In May 2018, Donald Trump Jr’s business partner in Indonesia, billionaire Hary Tanoesoedibjo, inked a deal with a Chinese state-owned construction company, the Metallurgical Corporation of China, to build a theme park next to planned Trump properties including a six-star hotel and golf course. In August 2019, Trump Jr. flew to Indonesia to help kick-start sales at the luxury resorts.

Trump Has Conducted Business In China For Decades. Even before holding office, Trump conducted business in China. He sought licensing deals as far back as 2006, filing trademark applications with the Chinese government that were only approved after he became President. Trump pursued an office tower project in Guangzhou in 2008 and opened a Shanghai office in 2012. In 2015, he pursued a licensing and development deal with one of China’s largest government-controlled entities, the State Grid Corporation, for a project in Beijing. That same year, the Trump Organization negotiated with a U.S. subsidiary of another one of China’s largest state-owned enterprises, Shanghai Municipal Investment Group. Trump even met with the group’s investors in his office and took a picture with them. In 2016, Trump Hotels announced it would aim to open businesses in 20 to 30 Chinese cities. His brand products have also been manufactured in China for decades.