10/20/20
President Trump's business has an active bank account in China and has paid more than $188,000 in taxes to the government in Beijing - much more than the $750 in taxes that he paid to the US treasury in both 2016 and 2017. Trump paid taxes to the Chinese government while he pursued licensing deals there between 2013 and 2015, according to tax records obtained by The New York Times. While Trump has paid into the Chinese treasury, he paid no federal income taxes in 10 of the 15 years preceding his White House run, according to records obtained by the Times. It is the latest in a series of Trump tax revelations published by the Times in the last month which show a series of financial losses and income from abroad that critics say could come into conflict with his responsibilities as president.
In April, it was reported that Trump's company had previously owed tens of millions of dollars to the Bank of China after the state-owned bank loaned him $211million as part of a refinancing of a Manhattan skyscraper owned by the president. The loan, which was revealed by Politico, derived from the Trump Organization's 30 per cent stake in the 1290 Avenue of the Americas building, bounded by 52nd Street and steps from Radio City Music Hall. However the loan then was repackaged, and the Bank of China says it no longer has any ownership of the loan. The Trump campaign has sought to shine a spotlight on Joe Biden’s son, Hunter Biden, and his business dealings with the Bank of China.
