President Trump has not yet divested himself fully from business and a new report revealed that he could withdraw cash from his trust without reporting it to the public.

Media amply covered international challenges facing President Donald J. Trump this week, including crises in Syria and North Korea and a high-level meeting with Chinese leadership. Less attention was paid though to a report that revealed how President Trump can legally take money from his business empire anytime without notifying the public. Almost 100 days after taking office, the 45th American president in many ways remains in control of private companies and profits despite clear conflicts of interest in being both Commander-in-Chief and a captain of industry.

Upon being elected, president Trump set up a trust to hold his business assets while he became the top public servant. His lawyers could point to the trust to show that Trump was “completely isolating himself” from private enterprises. However, investigative journalists at independent, non-profit newsroom ProPublica reported this week that a review of the trust documents show a recently added clause permits the trust to “distribute net income or principal to Donald J.Trump at his request.” This previously unreported change to the trust enables the president to access money from his hundreds of businesses across the world with no requirement to publicly report cash withdrawals since the companies are privately held. The American public would only be able to see the sources of Trump’s income from his tax returns

Many promises were made to hand control of the Trump Organization, the conglomerate that comprises Trump businesses and investments, over to the president’s adult sons to avoid conflicts of interest. President Trump remains the owner of Trump Organization though and has not divested from it. Despite promises to not be involved with the business, there was recently news that his sons will provide him with regular updates and quarterly reports. The president has clearly not yet separated himself fully from corporate oversight.

Conflicts of interest

US presidents should separate business and public interests so they do not profit from the immense political power that comes with holding the top government office. All indicators so far though show that Trump’s term as president will boost his carefully crafted brand and thus his corporate profits. The Trump Organization continues to expand nationwide and this week a real estate developer for the Trump Organization said the business is looking to open a second hotel in Washington, D.C. The first Trump Hotel in D.C., located between the U.S. Capitol building and White House, has been at the center of controversy regarding conflicts of interest and ethics. There are concerns that foreign dignitaries may stay at the hotel in order to gain access to or please President Trump.

Also, every time Trump mentions or visits the hotel, which is leased by the federal government, it is effectively a free promotion by the president. The Trump Organization may expand into the casino business as a billionaire friend of Trump and casino owner slept over at the White House this week amidst reports that Trump could be back in the gambling business. Regulators for the state of Nevada would surely have a hard time denying a company owned by the sitting US president a gambling license. 

President Trump has deflected criticisms of his ongoing role in business by donating the presidential salary earned thus far. It is a symbolic gesture of sacrifice, but that pittance wouldn’t even pay for a single presidential trip aboard Air Force One or to his favorite weekend luxury retreat in Florida. Trump’s companies, and ultimately he, stand to benefit from his many of his presidential activities. As the CEO of a private company, Trump didn’t have to answer to a board of directors or stockholders, but as president of the American people now he should be more forthright about whether he serves the masses or his corporate bottom-line.