Business

Trump Announces Plans to Surrender Control of His Business, But Declines Divestiture

Government Executive: President-elect Donald Trump formally announced on Wednesday his plan to hand over control of his real estate business to two of his sons, but his decision not to fully divest from the company left many critical of his resolution.

At a press conference in New York, Trump said he would turn over “complete and total control” of the entire Trump Organization to his adult sons Eric and Don Jr. Trump emphasized he could have jointly run his business and the country if he so chose, as the president and vice-president are largely exempt from federal conflict of interest laws. He explained, however, that the he did not “like the way that looks” and the American people do not want presidents “getting tangled up in minutia” so he was electing to voluntarily surrender control of the company.

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