As Trump bashed China, he sought deals with its government-owned energy firm State Grid
Trump has long declared Beijing to be America’s ‘enemy’, but his Trump Hotel Collection negotiated with the State Grid Corporation of China to brand and manage a major development in the capital, sources say
Even as US presidential candidate Donald Trump aggressively condemned Beijing, his hotel firm pursued a lucrative business deal with a giant state-owned Chinese firm headed by a top Communist official, sources say.
Trump has long declared Beijing to be America’s “enemy”, but his Trump Hotel Collection (THC) negotiated with the State Grid Corporation of China – an electricity company that is the country’s largest state-owned enterprise – to brand and manage a major development in the capital, according to sources with direct knowledge of the talks.
The process resulted in a memorandum of understanding for a deal potentially worth between US$100 million and US$150 million over 15 years, Robby Qiu, the former director of Trump’s Greater China office said.
The discussions were confirmed by a source who asked for anonymity to discuss sensitive business information.
We shouldn’t entertain Communists and beg for a few tiny contracts
Trump has repeatedly been accused of double standards during the election campaign, and questions have been raised about possible conflicts of interest due to his overseas deals.
China’s state-owned enterprises (SOEs) are a key element of the Communist party’s control over the world’s second-largest economy, and seen as important tools for pursuing its policy and geopolitical objectives.