The Trump Organization has announced more international deals in the first five months of President Donald Trump's second term than were made in the whole of his first term, according to a Wall Street Journal report.
“During Trump’s first presidency, his company only announced two new overseas projects,” the outlet reported. They also backed away from projects in more than 10 countries.
However, this time, the Trump Organization’s expansion “accelerated after Trump’s re-election.” The company and its partners have announced 12 projects since November.
These deals are mostly located in the Middle East. Five, however, are in India. It is notable because it is the largest concentration of Trump properties outside the U.S.
“The new deals involve the governments of Qatar, the United Arab Emirates, and Serbia,” the Journal said. “In Serbia, the Trump Organization is part of a plan to lease land from the government and to transform the remnants of a bombed-out Defense Ministry building in Belgrade into a $500 million luxury hotel.”
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A Trump representative told the Journal the organization had 12 developments under contract before his re-election.
The Journal reports, “Trump Organization executives say international partners are more eager to do business because the Trump name is now associated with his victory.”
“We’re the hottest brand in the world right now,” said Eric Trump, the president’s son who is running the Trump Organization on a day-to-day basis.
The outlet noted, “The Trump Organization released an ethics agreement in January barring the company from doing business directly with foreign governments.”
Yet, they went on to report, “Several of the deals involve foreign governments, especially in the Middle East.”
The Trumps claim there is a crucial distinction because the company “isn’t transacting directly with foreign governments. Rather, some of the Trump deals are joint ventures with companies that are doing business with foreign governments.”