UNITED STATES — President Donald Trump still has yet to formally give up control of his business assets to his children, according to a new report from ProPublica.
The report says that in order for the transfer to be final, Trump needs to submit papers to the states of Florida, Delaware, and New York. Representatives from all three states told ProPublica that no such papers had been received yet.
At a Jan. 11 press conference, then President-Elect Trump announced that he was going to give up control of his businesses to his children, who would keep him completely out of the loop. While the announcement was a step in the right direction, it was widely considered to be inadequate, including bu the former head of the White House Office of Ethics.
“What are the terms of the trust? Who is going to be the ethics monitor and what standards will he or she abide by?” Norman Eisen, who served as the White House chief ethics lawyer under President Obama said to ProPublica. “There are 1,000 unanswered questions.”
Trump has significant business interests that have the potential to be directly influenced by decisions he makes while President. Traditionally, incoming presidents have put all of their assets in a blind trust, which is administered by someone completely independent of the President and their family.