Trump Organization cancels business talks in 3 countries
NEW YORK — The Trump Organization has cancelled talks over possible projects in Brazil, Argentina and India as the president-elect pulls back from deal-making less than three weeks before taking office.
Trump lawyer Alan Garten said Wednesday that the company has cancelled a “memorandum of understanding” to continue discussions with local partners over possible office towers in Rio de Janeiro. He also said the company won’t continue “exploratory” talks over projects in Pune, India, and in Buenos Aires, Argentina.
The moves follow cancellations late last year of licensing deals for hotels in Brazil, Azerbaijan and the neighbouring country of Georgia as Donald Trump has come under pressure to separate from his business before assuming office. Federal ethics rules do not require presidents to sell off their business or investments, but critics argue that Trump should do so because his global holdings present unprecedented conflicts of interest.
Trump has given no indication that he plans to sell his interest in his business. Instead he has pledged to do “no new deals” while president and to leave management of his company to his two adult sons, along with executives.