Trump maintains a Chinese bank-account, says NYT
US President Donald Trump has admitted he includes a Chinese bank account, according to a report by the brand new York Times.
The account is manipulated by Trump International Hotels Management and paid local taxes between 2013 and 2015.
It was set up "to explore the prospect of hotel deals in Asia", according to a Trump spokesman.
Mr Trump has been critical of US firms conducting business in China and sparked a trade war between your two countries.
The NYT revealed the account after obtaining Mr Trump's tax records, which included both personal and company financial details.
The newspaper's previous reports show he paid $750 in US federal taxes in 2016 and 2017 when he became president.
The Chinese bank-account has paid out $188,561 (£145,720) in local taxes.
Mr Trump has been critical of presidential candidate rival Joe Biden and his policies towards China in the lead-up to the united states election, occurring on 3 November.
The Trump administration has designated Mr Biden's son Hunter and his dealings with China.
'Inactive' office
Alan Garten, a lawyer for the Trump Organization, told the NYT that Trump International Hotels Management had "opened a merchant account with a Chinese bank having offices in America so as to pay the local taxes".
"No deals, transactions or other business activities ever materialized and, since 2015, the office has remained inactive," Mr Garten said.
"Though the bank-account remains open, it hasn't been used for just about any other purpose," he told the NYT.
THE UNITED STATES president has multiple business interests both in the US and overseas. These include golf courses in Scotland and Ireland and a chain of five-star luxury hotels.
The NYT reported that Mr Trump maintains foreign bank accounts in China, Britain and Ireland.
'End our reliance on China'
In August, Mr Trump said he wished to offer tax credits to entice US companies to go factories out of China.
He also threatened to strip government contracts from organizations that continue steadily to outsource work to China.
In a speech, Mr Trump vowed to create 10m jobs in 10 months, saying "we will end our reliance on China."
In stark contrast, the NYT report details how Mr Trump has been looking to land business in China. His efforts accelerated in 2012 with the opening of a Shanghai office.
The tax records it obtained show that he has invested at least $192,000 in five small companies created particularly to pursue projects in China over a number of years.
Those companies claimed at least $97,400 in business expenses since 2010, including some minor payments for taxes and accounting charges as recently as 2018.
However the US president's plans in China have already been largely driven by Trump International Hotels Management, through direct ownership of THC China Development, in line with the NYT.
