Trump owes 10s of millions to Bank of China, reports Politico

“The president's financial dealings with the state-owned bank complicate his attacks on Biden.”

We never did get to see his income tax returns, did we.

A story out Friday at Politico reports that impeached president Donald Trump is "tens of millions of dollars in debt to China, i including $211 million from the state-owned Bank of China." The Trump transaction is reported to be the first loan of this kind by Bank of China in the U.S., and involves one of Trump's New York City buildings, which was refinanced by his real estate partner in 2012. The loan matures in 2022.

The loan matures in 2022, "in the middle of what could be Trump's second term."


Steps from Trump Tower in Manhattan, the 43-story 1290 Avenue of the Americas skyscraper spans an entire city block. Trump owns a 30 percent stake in the property valued at more than $1 billion, making it one of the priciest addresses in his portfolio, according to his financial disclosures.

Trump's ownership of the building received a smattering of attention before and after his 2016 campaign. But the arrangement with the Bank of China — and its impending due date in 2022 — has gone largely unnoticed.

The revelation complicates one of Trump's emerging campaign attacks against Biden: that the former vice president would be a gift to the Communist country and America's chief economic rival.

Go read the article at Politico:
Trump owes tens of millions to the Bank of China — and the loan is due soon[MARC CAPUTO, MERIDITH MCGRAW and ANITA KUMAR, 04/24/2020 04:30 AM EDT]

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