Tax records show Trump pursued China projects

WASHINGTON: President Donald Trump spent a decade unsuccessfully pursuing projects in China, operating an office there during his first run for president and forging a partnership with a major government-controlled company, The New York Times reported.

China is one of only three foreign nations — the others are Britain and Ireland — where Trump maintains a bank account, according to a Times analysis of the president’s tax records. The foreign accounts do not show up on Trump’s public financial disclosures, where he must list personal assets, because they are held under corporate names.

The Times said Trump’s tax records show that he has invested at least $192,000 in five small companies created specifically to pursue projects in China over the years. Those companies claimed at least $97,400 in business expenses since 2010, including some minor payments for taxes and accounting fees as recently as 2018, the Times reported.